Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Price Cross Above 200-Day Moving Average – What’s Next?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $143.02 and traded as high as $150.77. Direxion Daily Financial Bull 3X Shares shares last traded at $148.12, with a volume of 341,798 shares traded.

Direxion Daily Financial Bull 3X Shares Trading Up 0.8%

The business has a 50-day moving average price of $137.38 and a 200-day moving average price of $143.02. The stock has a market cap of $2.30 billion, a PE ratio of 15.11 and a beta of 2.61.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FAS. Qube Research & Technologies Ltd grew its position in shares of Direxion Daily Financial Bull 3X Shares by 5,950.9% in the third 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. CIBC Bancorp USA Inc. acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth about $6,604,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth about $4,392,000. Quadrature Capital Ltd lifted its stake in Direxion Daily Financial Bull 3X Shares by 192.0% in the 4th quarter. Quadrature Capital Ltd now owns 36,808 shares of the real estate investment trust’s stock valued at $6,196,000 after buying an additional 24,203 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $3,416,000. 3.51% of the stock is owned by hedge funds and other institutional investors.

About Direxion Daily Financial Bull 3X Shares

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.