Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Shares Pass Below 200 Day Moving Average – Here’s Why

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $43.81 and traded as low as $43.28. Direxion Daily Financial Bear 3X Shares shares last traded at $43.97, with a volume of 307,349 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Performance

The stock has a 50-day moving average of $47.24 and a 200 day moving average of $43.81.

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

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at about $202,000. Group One Trading LLC boosted its holdings in Direxion Daily Financial Bear 3X Shares by 7.4% in the 1st quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 438 shares during the last quarter. UBS Group AG raised its position 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 purchasing an additional 26,944 shares during the period. Quadrature Capital Ltd purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at $1,466,000. Finally, Jump Financial LLC purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at $1,554,000. 9.56% of the stock is owned by hedge funds and other institutional investors.

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.