Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Down 7.3% – Here’s Why

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s share price fell 7.3% during mid-day trading on Friday . The company traded as low as $121.25 and last traded at $123.32. 404,750 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 842,787 shares. The stock had previously closed at $133.00.

Direxion Daily Financial Bull 3X Shares Price Performance

The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 15.11 and a beta of 3.02. The firm’s 50-day moving average is $153.73 and its 200 day moving average is $163.79.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were paid a dividend of $12.0949 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $48.38 annualized dividend and a dividend yield of 37.9%. This is a boost from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd boosted its holdings in Direxion Daily Financial Bull 3X Shares by 5,950.9% in the third quarter. Qube Research & Technologies Ltd now owns 174,447 shares of the real estate investment trust’s stock valued at $31,034,000 after acquiring an additional 171,564 shares during the last quarter. IMC Chicago LLC increased its stake in Direxion Daily Financial Bull 3X Shares by 396.0% during the third quarter. IMC Chicago LLC now owns 54,057 shares of the real estate investment trust’s stock worth $9,617,000 after acquiring an additional 43,158 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth about $6,604,000. Elevatus Welath Management purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter worth about $4,988,000. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $4,392,000. 3.51% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily Financial Bull 3X Shares Company Profile

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% 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.