Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Trading Up 6.7% – Time to Buy?

Shares of Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) were up 6.7% during trading on Monday . The stock traded as high as $85.06 and last traded at $84.05. Approximately 1,941,630 shares were traded during trading, an increase of 114% from the average daily volume of 907,930 shares. The stock had previously closed at $78.77.

Direxion Daily Regional Banks Bull 3x Shares Stock Up 6.7%

The firm has a market capitalization of $716.11 million, a PE ratio of 10.48 and a beta of 2.99. The company’s 50-day simple moving average is $101.55 and its 200 day simple moving average is $87.89.

Hedge Funds Weigh In On Direxion Daily Regional Banks Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of DPST. REDW Wealth LLC purchased a new position in shares of Direxion Daily Regional Banks Bull 3x Shares in the 1st quarter valued at approximately $216,000. Hollencrest Capital Management raised its position in shares of Direxion Daily Regional Banks Bull 3x Shares by 30,734.8% in the 1st quarter. Hollencrest Capital Management now owns 78,012 shares of the company’s stock valued at $6,755,000 after purchasing an additional 77,759 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Direxion Daily Regional Banks Bull 3x Shares by 228.6% in the 1st quarter. Lindbrook Capital LLC now owns 2,300 shares of the company’s stock valued at $199,000 after purchasing an additional 1,600 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Direxion Daily Regional Banks Bull 3x Shares in the 1st quarter valued at approximately $105,000. Finally, Simplex Trading LLC purchased a new position in shares of Direxion Daily Regional Banks Bull 3x Shares in the 1st quarter valued at approximately $456,000.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.