Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $148.70 and traded as high as $169.90. Direxion Daily Financial Bull 3X ETF shares last traded at $161.85, with a volume of 459,439 shares trading hands.

Direxion Daily Financial Bull 3X ETF Stock Up 0.2%

The firm has a market cap of $2.20 billion, a P/E ratio of 15.11 and a beta of 2.57. The firm’s 50-day simple moving average is $175.71 and its 200 day simple moving average is $148.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Group One Trading LLC bought a new stake in Direxion Daily Financial Bull 3X ETF during the first quarter valued at approximately $1,039,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Direxion Daily Financial Bull 3X ETF by 3,447.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,260 shares of the real estate investment trust’s stock worth $2,400,000 after acquiring an additional 13,858 shares during the last quarter. Renaissance Technologies LLC grew its position in Direxion Daily Financial Bull 3X ETF by 18.9% in the first quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock worth $2,986,000 after acquiring an additional 4,000 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Direxion Daily Financial Bull 3X ETF by 17.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock valued at $1,130,000 after acquiring an additional 1,400 shares during the last quarter. Finally, IMC Chicago LLC bought a new position in Direxion Daily Financial Bull 3X ETF in the first quarter valued at $221,000. 3.51% of the stock is currently owned by hedge funds and other institutional investors.

Direxion Daily Financial Bull 3X ETF 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.