Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Share Price Cross Above 50-Day Moving Average – What’s Next?

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $23.23 and traded as high as $26.64. Direxion Daily Real Estate Bear 3X Shares shares last traded at $26.51, with a volume of 95,449 shares changing hands.

Direxion Daily Real Estate Bear 3X Shares Price Performance

The firm has a fifty day simple moving average of $23.23 and a two-hundred day simple moving average of $24.63.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter worth about $335,000. J. Safra Sarasin Holding AG bought a new stake in Direxion Daily Real Estate Bear 3X Shares during the fourth quarter worth about $265,000. Virtu Financial LLC grew its holdings in Direxion Daily Real Estate Bear 3X Shares by 17.6% in the fourth quarter. Virtu Financial LLC now owns 37,463 shares of the company’s stock worth $994,000 after purchasing an additional 5,614 shares during the period. Finally, Group One Trading LLC grew its holdings in Direxion Daily Real Estate Bear 3X Shares by 106.9% in the second quarter. Group One Trading LLC now owns 3,662 shares of the company’s stock worth $92,000 after purchasing an additional 1,892 shares during the period.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.