Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Price Cross Below 200-Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $41.84 and traded as low as $40.83. Direxion Daily Financial Bear 3X Shares shares last traded at $41.31, with a volume of 1,326,594 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Performance

The firm’s 50-day simple moving average is $39.69 and its 200 day simple moving average is $41.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at approximately $44,000. SBI Securities Co. Ltd. lifted its stake in Direxion Daily Financial Bear 3X Shares by 119.5% in 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 purchasing an additional 10,002 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position 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 buying an additional 15,221 shares in the last quarter. UBS Group AG grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% during the third 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. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares during the 2nd quarter valued at $175,000. Institutional investors own 9.56% of the company’s stock.

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.