Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) gapped down before the market opened on Monday . The stock had previously closed at $176.48, but opened at $170.00. Direxion Daily Financial Bull 3X Shares shares last traded at $171.0420, with a volume of 381,597 shares changing hands.

Direxion Daily Financial Bull 3X Shares Price Performance

The company has a fifty day moving average price of $166.91 and a two-hundred day moving average price of $169.16. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 15.11 and a beta of 3.02.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were paid a $12.0949 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $48.38 annualized dividend and a dividend yield of 28.1%. This is an increase from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

A number of large investors have recently added to or reduced their stakes in FAS. Morse Asset Management Inc grew its position in Direxion Daily Financial Bull 3X Shares by 31.9% in the third quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 79 shares during the last quarter. Addison Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth $29,000. Bogart Wealth LLC grew its holdings in shares of Direxion Daily Financial Bull 3X Shares by 40.0% in the 3rd quarter. Bogart Wealth LLC now owns 700 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 200 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in shares of Direxion Daily Financial Bull 3X Shares by 13.0% in the 2nd quarter. Ellis Investment Partners LLC now owns 2,744 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 315 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Direxion Daily Financial Bull 3X Shares by 4.1% during the third quarter. Mariner LLC now owns 9,085 shares of the real estate investment trust’s stock worth $1,616,000 after purchasing an additional 354 shares during the period. 3.51% of the stock is currently owned by institutional investors.

Direxion Daily Financial Bull 3X Shares Company Profile

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.