Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $145.00 and traded as high as $185.50. Direxion Daily Financial Bull 3X Shares shares last traded at $184.98, with a volume of 217,430 shares changing hands.

Direxion Daily Financial Bull 3X Shares Price Performance

The company’s 50 day simple moving average is $169.04 and its 200 day simple moving average is $145.23. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 15.11 and a beta of 2.59.

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

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in 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 purchasing an additional 4,000 shares in the last quarter. Group One Trading LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the first quarter worth about $1,039,000. PNC Financial Services Group Inc. increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 17.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock worth $1,130,000 after buying an additional 1,400 shares during the period. IMC Chicago LLC acquired a new stake in Direxion Daily Financial Bull 3X Shares in the first quarter valued at approximately $221,000. Finally, Bogart Wealth LLC lifted its stake in Direxion Daily Financial Bull 3X Shares by 37.5% in the first quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 300 shares during the last quarter. 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.