Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Pass Above Fifty Day Moving Average – Here’s Why

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $43.93 and traded as high as $53.40. Direxion Daily Financial Bear 3X Shares shares last traded at $53.31, with a volume of 552,198 shares traded.

Direxion Daily Financial Bear 3X Shares Trading Up 3.6%

The firm has a fifty day moving average of $43.93 and a 200-day moving average of $42.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter worth about $202,000. Quadrature Capital Ltd acquired a new position in Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $1,466,000. Jump Financial LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at about $1,554,000. UBS Group AG lifted its holdings 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 valued at $1,108,000 after purchasing an additional 26,944 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Direxion Daily Financial Bear 3X Shares by 48.7% in the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares during the last quarter. Institutional investors and hedge funds 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.