Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Share Price Pass Above 200 Day Moving Average – Time to Sell?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $167.91 and traded as high as $174.17. Direxion Daily Financial Bull 3X Shares shares last traded at $172.24, with a volume of 295,789 shares changing hands.

Direxion Daily Financial Bull 3X Shares Stock Down 0.8%

The firm’s fifty day moving average price is $165.08 and its 200-day moving average price is $167.91. The stock has a market cap of $2.65 billion, a P/E ratio of 15.11 and a beta of 3.02.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were given a $12.0949 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $48.38 dividend on an annualized basis and a dividend yield of 28.1%. This is a boost from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAS. Qube Research & Technologies Ltd grew its stake in shares of Direxion Daily Financial Bull 3X Shares by 5,950.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 174,447 shares of the real estate investment trust’s stock valued at $31,034,000 after purchasing an additional 171,564 shares during the period. Simplex Trading LLC boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 28.2% in the second quarter. Simplex Trading LLC now owns 104,672 shares of the real estate investment trust’s stock worth $17,647,000 after buying an additional 23,052 shares during the last quarter. IMC Chicago LLC grew its position in Direxion Daily Financial Bull 3X Shares by 396.0% during the third quarter. IMC Chicago LLC now owns 54,057 shares of the real estate investment trust’s stock valued at $9,617,000 after buying an additional 43,158 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $6,604,000. Finally, Elevatus Welath Management purchased a new stake in Direxion Daily Financial Bull 3X Shares during the second quarter valued at approximately $4,988,000. Institutional investors own 3.51% of the company’s stock.

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. 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.