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

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $142.34 and traded as high as $169.14. Direxion Daily Financial Bull 3X Shares shares last traded at $167.23, with a volume of 332,351 shares changing hands.

Direxion Daily Financial Bull 3X Shares Price Performance

The firm has a 50-day simple moving average of $146.70 and a 200 day simple moving average of $142.34. The company has a market capitalization of $2.38 billion, a PE ratio of 15.11 and a beta of 2.60.

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

A number of large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Direxion Daily Financial Bull 3X Shares in the 4th quarter worth approximately $1,057,000. Northwestern Mutual Wealth Management Co. grew its position in Direxion Daily Financial Bull 3X Shares by 3,447.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,260 shares of the real estate investment trust’s stock valued at $2,400,000 after acquiring an additional 13,858 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 7.4% during the fourth quarter. Stratos Wealth Advisors LLC now owns 1,822 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 125 shares during the period. Morse Asset Management Inc raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 31.9% during the third quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 79 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Direxion Daily Financial Bull 3X Shares by 18.9% during the first quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 3.51% of the company’s stock.

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.