Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Above Fifty Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $43.93 and traded as high as $53.40. Direxion Daily Financial Bear 3X Shares shares last traded at $53.31, with a volume of 552,198 shares trading hands.

Direxion Daily Financial Bear 3X Shares Trading Up 3.6%

The company’s fifty day moving average price is $43.93 and its two-hundred day moving average price is $42.35.

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

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $202,000. UBS Group AG increased its holdings in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% during the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 26,944 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter worth $1,466,000. Jump Financial LLC purchased a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter worth $1,554,000. Finally, Squarepoint Ops LLC boosted its holdings in Direxion Daily Financial Bear 3X Shares by 48.7% in the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after acquiring an additional 71,516 shares during the last quarter. Hedge funds and other institutional investors own 9.56% of the company’s stock.

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. 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.