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

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 business has a 50-day simple moving average of $147.46 and a 200 day simple moving average of $142.32. The firm has a market cap of $2.35 billion, a PE ratio of 15.11 and a beta of 2.60.

Institutional Investors 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. Morse Asset Management Inc lifted its holdings in 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 in the last quarter. Bogart Wealth LLC increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 37.5% in the first quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock worth $130,000 after purchasing an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 154.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 621 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the third quarter worth $202,000. Finally, J.W. Cole Advisors Inc. raised its position in shares of Direxion Daily Financial Bull 3X Shares by 7.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,246 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 87 shares during the period. 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.