Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $31.65 and traded as low as $30.12. Direxion Daily Financial Bear 3X Shares shares last traded at $30.12, with a volume of 1,129 shares changing hands.
The stock’s fifty day moving average price is $31.65 and its two-hundred day moving average price is $29.27.
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Investment Advisory Services LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares during the 2nd quarter worth $55,000. Simplex Trading LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares during the 3rd quarter worth $147,000. US Bancorp DE raised its stake in Direxion Daily Financial Bear 3X Shares by 3,077.6% during the 2nd quarter. US Bancorp DE now owns 4,830 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 4,678 shares in the last quarter. Bank of Montreal Can acquired a new stake in Direxion Daily Financial Bear 3X Shares during the 2nd quarter worth $385,000. Finally, Tuttle Tactical Management acquired a new stake in Direxion Daily Financial Bear 3X Shares during the 3rd quarter worth $597,000.
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.
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