Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Pass Below Two Hundred Day Moving Average – What’s Next?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $43.57 and traded as low as $40.53. Direxion Daily Financial Bear 3X Shares shares last traded at $42.70, with a volume of 1,009,664 shares traded.

Direxion Daily Financial Bear 3X Shares Trading Up 2.1%

The company’s 50-day moving average is $47.86 and its 200-day moving average is $43.57.

Institutional Trading of Direxion Daily Financial Bear 3X Shares

A number of hedge funds have recently added to or reduced their stakes in FAZ. Squarepoint Ops LLC boosted its position in 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 buying an additional 71,516 shares in the last quarter. UBS Group AG boosted its position in 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 buying an additional 26,944 shares in the last quarter. Jump Financial LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $1,554,000. Quadrature Capital Ltd acquired a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $1,466,000. Finally, Virtu Financial LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Company Profile

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.