Direxion Daily Financial Bull 3X Shares Target of Unusually Large Options Trading (NYSEARCA:FAS)

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) saw some unusual options trading on Friday. Traders bought 6,686 put options on the stock. This is an increase of 76% compared to the typical volume of 3,796 put options.

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

Large investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc lifted its stake in Direxion Daily Financial Bull 3X Shares by 31.9% in the third quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 79 shares during the last quarter. Bogart Wealth LLC grew its position in shares of Direxion Daily Financial Bull 3X Shares by 14.3% during the fourth quarter. Bogart Wealth LLC now owns 800 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 100 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Direxion Daily Financial Bull 3X Shares by 154.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 621 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth about $202,000. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Direxion Daily Financial Bull 3X Shares by 7.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,246 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 87 shares during the period. 3.51% of the stock is owned by institutional investors and hedge funds.

Direxion Daily Financial Bull 3X Shares Stock Performance

Shares of Direxion Daily Financial Bull 3X Shares stock traded up $1.47 on Friday, reaching $166.10. 104,420 shares of the company were exchanged, compared to its average volume of 769,315. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 15.11 and a beta of 2.60. Direxion Daily Financial Bull 3X Shares has a 1-year low of $106.90 and a 1-year high of $184.74. The company’s 50-day moving average is $148.15 and its two-hundred day moving average is $142.29.

Direxion Daily Financial Bull 3X Shares Company Profile

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.