Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Pass Above Two Hundred Day Moving Average – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $142.34 and traded as high as $169.14. Direxion Daily Financial Bull 3X Shares shares last traded at $167.23, with a volume of 332,351 shares traded.

Direxion Daily Financial Bull 3X Shares Trading Up 0.3%

The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 15.11 and a beta of 2.60. The firm has a 50 day moving average price of $146.70 and a two-hundred day moving average price of $142.34.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd grew its stake in Direxion Daily Financial Bull 3X Shares by 5,950.9% during the third quarter. Qube Research & Technologies Ltd now owns 174,447 shares of the real estate investment trust’s stock worth $31,034,000 after buying an additional 171,564 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the third quarter worth $6,604,000. Quadrature Capital Ltd raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 192.0% in the 4th quarter. Quadrature Capital Ltd now owns 36,808 shares of the real estate investment trust’s stock valued at $6,196,000 after acquiring an additional 24,203 shares during the period. Renaissance Technologies LLC raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 18.9% in the 1st quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock valued at $2,986,000 after acquiring an additional 4,000 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $4,392,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

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.