Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Price Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $161.98 and traded as high as $163.00. Direxion Daily Financial Bull 3X Shares shares last traded at $158.45, with a volume of 1,041,121 shares trading hands.

Direxion Daily Financial Bull 3X Shares Stock Down 5.1%

The firm has a market capitalization of $2.44 billion, a P/E ratio of 15.11 and a beta of 3.02. The firm has a 50 day moving average of $172.94 and a 200-day moving average of $161.98.

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

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter valued at approximately $322,000. Ellis Investment Partners LLC boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 13.0% in the second quarter. Ellis Investment Partners LLC now owns 2,744 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 315 shares during the period. LPL Financial LLC boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 651.8% in the first quarter. LPL Financial LLC now owns 46,469 shares of the real estate investment trust’s stock valued at $7,348,000 after buying an additional 40,288 shares during the period. FNY Investment Advisers LLC boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 647.0% in the second quarter. FNY Investment Advisers LLC now owns 3,735 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 3,235 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter valued at approximately $221,000. 3.51% of the stock is currently owned by 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.