Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Above 50-Day Moving Average – Time to Sell?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $39.35 and traded as high as $40.23. Direxion Daily Financial Bear 3X Shares shares last traded at $40.17, with a volume of 1,012,535 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Performance

The business’s fifty day moving average price is $39.35 and its 200-day moving average price is $41.67.

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

A number of hedge funds have recently added to or reduced their stakes in FAZ. SBI Securities Co. Ltd. lifted its holdings in shares of 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 valued at $81,000 after buying an additional 10,002 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in Direxion Daily Financial Bear 3X Shares by 142.4% in 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 acquiring an additional 15,221 shares during the period. UBS Group AG lifted its holdings in Direxion Daily Financial Bear 3X Shares by 5,908.8% in the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock valued at $1,108,000 after acquiring an additional 26,944 shares during the period. FNY Investment Advisers LLC purchased a new position in Direxion Daily Financial Bear 3X Shares in the second quarter worth about $175,000. Finally, Squarepoint Ops LLC grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 48.7% during the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares during the period. 9.56% of the stock is currently owned by hedge funds and other institutional investors.

About Direxion Daily Financial Bear 3X Shares

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. 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.