Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Trading Down 5.6% – Should You Sell?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s share price fell 5.6% during mid-day trading on Friday . The company traded as low as $118.07 and last traded at $117.6620. 306,992 shares were traded during trading, a decline of 38% from the average session volume of 491,842 shares. The stock had previously closed at $124.66.

Direxion Daily Regional Banks Bull 3x Shares Stock Performance

The stock has a 50 day moving average of $103.90 and a two-hundred day moving average of $99.10. The stock has a market cap of $606.86 million, a PE ratio of 10.48 and a beta of 2.67.

Institutional Trading of Direxion Daily Regional Banks Bull 3x Shares

Hedge funds have recently made changes to their positions in the stock. REDW Wealth LLC grew its position in Direxion Daily Regional Banks Bull 3x Shares by 20.0% during the second quarter. REDW Wealth LLC now owns 3,000 shares of the company’s stock valued at $260,000 after purchasing an additional 500 shares in the last quarter. Simplex Trading LLC raised its holdings in shares of Direxion Daily Regional Banks Bull 3x Shares by 30.7% during the second quarter. Simplex Trading LLC now owns 6,887 shares of the company’s stock worth $597,000 after acquiring an additional 1,616 shares in the last quarter. 1ST Source Bank acquired a new stake in Direxion Daily Regional Banks Bull 3x Shares during the second quarter valued at $434,000. Allworth Financial LP purchased a new position in Direxion Daily Regional Banks Bull 3x Shares in the second quarter valued at about $49,000. Finally, SBI Securities Co. Ltd. increased its position in Direxion Daily Regional Banks Bull 3x Shares by 1.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 33,282 shares of the company’s stock worth $2,889,000 after purchasing an additional 356 shares during the last quarter.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.