Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Shares Break Above 50-Day Moving Average – Here’s Why

by · The Markets Daily

Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS – Get Free Report) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $162.24 and traded as high as $170.68. Direxion Daily Financial Bull 3X ETF shares last traded at $168.21, with a volume of 354,392 shares.

Direxion Daily Financial Bull 3X ETF Stock Performance

The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 15.11 and a beta of 2.62. The company has a 50 day moving average of $162.08 and a 200-day moving average of $149.74.

Institutional Trading of Direxion Daily Financial Bull 3X ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC boosted its stake in Direxion Daily Financial Bull 3X ETF by 37.5% during the 1st quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 300 shares during the last quarter. Signaturefd LLC bought a new stake in shares of Direxion Daily Financial Bull 3X ETF in the 3rd quarter worth about $110,000. Toth Financial Advisory Corp acquired a new stake in shares of Direxion Daily Financial Bull 3X ETF in the 3rd quarter valued at about $169,000. PNC Financial Services Group Inc. raised its stake in shares of Direxion Daily Financial Bull 3X ETF by 17.2% in the 1st 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 purchasing an additional 1,400 shares in the last quarter. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily Financial Bull 3X ETF during the first quarter worth about $221,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X ETF Company Profile

(Get Free Report)

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.

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