Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Pass Below 50-Day Moving Average – What’s Next?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $42.10 and traded as low as $34.88. Direxion Daily Financial Bear 3X Shares shares last traded at $36.39, with a volume of 538,320 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Performance

The business’s 50 day moving average is $42.10 and its 200 day moving average is $43.36.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $202,000. Group One Trading LLC lifted its stake in Direxion Daily Financial Bear 3X Shares by 7.4% in the first quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 438 shares during the last quarter. Squarepoint Ops LLC lifted its stake 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 during the last quarter. UBS Group AG raised its position in Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 26,944 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $1,466,000. 9.56% of the stock is owned by hedge funds and other institutional investors.

About Direxion Daily Financial Bear 3X Shares

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.