Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Pass Above Fifty Day Moving Average – Should You Sell?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $39.35 and traded as high as $40.23. Direxion Daily Financial Bear 3X Shares shares last traded at $40.17, with a volume of 1,012,535 shares.

Direxion Daily Financial Bear 3X Shares Price Performance

The stock’s 50 day moving average is $39.35 and its 200-day moving average is $41.67.

Institutional Investors Weigh In On Direxion Daily Financial Bear 3X Shares

Institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its position in Direxion Daily Financial Bear 3X Shares by 48.7% in the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after acquiring an additional 71,516 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter worth $175,000. UBS Group AG raised its stake in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after purchasing an additional 26,944 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 15,221 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily Financial Bear 3X Shares by 119.5% during the second quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 10,002 shares during the last quarter. Institutional investors own 9.56% of the company’s stock.

About Direxion Daily Financial Bear 3X Shares

Direxion Daily Financial Bear 3x Shares (the Fund) seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the Russell 1000 Financial Services Index (the Index). The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.