Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Price Cross Below 200 Day Moving Average – Here’s Why

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $41.84 and traded as low as $40.83. Direxion Daily Financial Bear 3X Shares shares last traded at $41.31, with a volume of 1,326,594 shares changing hands.

Direxion Daily Financial Bear 3X Shares Trading Up 0.5%

The company’s 50-day simple moving average is $39.69 and its 200-day simple moving average is $41.84.

Hedge Funds Weigh In On Direxion Daily Financial Bear 3X Shares

Institutional investors have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares in the second quarter valued at approximately $44,000. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily Financial Bear 3X Shares by 119.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 10,002 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Direxion Daily Financial Bear 3X Shares by 142.4% in the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 15,221 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares during the 2nd quarter worth about $175,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Direxion Daily Financial Bear 3X Shares by 48.7% during the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock worth $959,000 after buying an additional 71,516 shares during the period. 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.