Direxion Daily Financial Bull 3X Shares Target of Unusually Large Options Trading (NYSEARCA:FAS)

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 6,686 put options on the stock. This represents an increase of approximately 76% compared to the typical daily volume of 3,796 put options.

Direxion Daily Financial Bull 3X Shares Stock Up 2.5%

Shares of NYSEARCA FAS opened at $168.74 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 15.11 and a beta of 2.60. The company has a 50 day moving average of $148.94 and a 200 day moving average of $142.47. Direxion Daily Financial Bull 3X Shares has a twelve month low of $106.90 and a twelve month high of $184.74.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAS. Qube Research & Technologies Ltd grew its position in Direxion Daily Financial Bull 3X Shares by 5,950.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 174,447 shares of the real estate investment trust’s stock worth $31,034,000 after purchasing an additional 171,564 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the third quarter worth $6,604,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the third quarter worth $4,392,000. Quadrature Capital Ltd increased its position in Direxion Daily Financial Bull 3X Shares by 192.0% during the fourth 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 last quarter. Finally, Focus Partners Wealth bought a new position in Direxion Daily Financial Bull 3X Shares in the third quarter valued at about $3,416,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

About Direxion Daily Financial Bull 3X Shares

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.