Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Price Down 4.1%

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) dropped 4.1% during trading on Wednesday . The stock traded as low as $117.38 and last traded at $117.84. Approximately 157,117 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 683,244 shares. The stock had previously closed at $122.82.

Direxion Daily Financial Bull 3X Shares Price Performance

The business has a 50-day simple moving average of $115.90 and a two-hundred day simple moving average of $107.53.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC bought a new position in Direxion Daily Financial Bull 3X Shares during the fourth quarter worth $413,000. IMC Chicago LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the fourth quarter valued at about $1,494,000. Virtu Financial LLC acquired a new stake in Direxion Daily Financial Bull 3X Shares during the fourth quarter worth about $622,000. Grandview Asset Management LLC bought a new position in Direxion Daily Financial Bull 3X Shares during the first quarter valued at about $269,000. Finally, Private Capital Management LLC increased its stake in Direxion Daily Financial Bull 3X Shares by 20.5% during the fourth quarter. Private Capital Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $826,000 after acquiring an additional 1,700 shares during the period. 3.51% of the stock is owned by institutional investors and hedge funds.

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.