Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) gapped down before the market opened on Wednesday . The stock had previously closed at $132.47, but opened at $126.38. Direxion Daily Regional Banks Bull 3x Shares shares last traded at $125.98, with a volume of 194,518 shares.

Direxion Daily Regional Banks Bull 3x Shares Price Performance

The company has a 50-day simple moving average of $122.40 and a 200-day simple moving average of $114.48. The stock has a market cap of $1.24 billion, a PE ratio of 105.26 and a beta of 3.98.

Institutional Investors Weigh In On Direxion Daily Regional Banks Bull 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares in the fourth quarter valued at approximately $3,731,000. KG&L Capital Management LLC purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter valued at approximately $936,000. Virtu Financial LLC acquired a new stake in Direxion Daily Regional Banks Bull 3x Shares during the 4th quarter valued at $935,000. X Square Capital LLC purchased a new position in Direxion Daily Regional Banks Bull 3x Shares during the fourth quarter worth $505,000. Finally, Toth Financial Advisory Corp raised its holdings in shares of Direxion Daily Regional Banks Bull 3x Shares by 40.6% in the fourth quarter. Toth Financial Advisory Corp now owns 12,723 shares of the company’s stock worth $1,398,000 after acquiring an additional 3,676 shares during the last quarter.

Direxion Daily Regional Banks Bull 3x Shares Company Profile

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.