Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Cross Below 200-Day Moving Average – Should You Sell?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $44.21 and traded as low as $41.33. Direxion Daily Financial Bear 3X Shares shares last traded at $41.45, with a volume of 843,349 shares.

Direxion Daily Financial Bear 3X Shares Trading Down 3.8%

The stock’s fifty day moving average is $43.14 and its two-hundred day moving average is $44.21.

Hedge Funds Weigh In On Direxion Daily Financial Bear 3X Shares

Hedge funds have recently modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares during the second quarter worth $44,000. Headlands Technologies LLC increased its stake in Direxion Daily Financial Bear 3X Shares by 36,033.3% in the 1st quarter. Headlands Technologies LLC now owns 13,008 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 12,972 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Direxion Daily Financial Bear 3X Shares by 119.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 10,002 shares during the period. Johnson Investment Counsel Inc. lifted its stake in Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 15,221 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Direxion Daily Financial Bear 3X Shares during the second quarter valued at about $175,000. 9.56% of the stock is currently owned by institutional investors and hedge funds.

Direxion Daily Financial Bear 3X Shares Company Profile

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.