Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $32.56 and traded as high as $37.00. Direxion Daily Financial Bear 3X ETF shares last traded at $36.58, with a volume of 1,238,571 shares.

Direxion Daily Financial Bear 3X ETF Trading Up 0.0%

The business has a 50-day moving average price of $32.71 and a 200-day moving average price of $40.12.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direxion Daily Financial Bear 3X ETF stock. Group One Trading LLC grew its holdings in Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,330 shares of the real estate investment trust’s stock after acquiring an additional 438 shares during the quarter. Group One Trading LLC owned 0.23% of Direxion Daily Financial Bear 3X ETF worth $321,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.56% of the company’s stock.

About Direxion Daily Financial Bear 3X ETF

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.