Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Above 50 Day Moving Average – Time to Sell?

Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $41.88 and traded as high as $44.91. Direxion Daily Financial Bear 3X Shares shares last traded at $44.34, with a volume of 1,424,883 shares changing hands.

Direxion Daily Financial Bear 3X Shares Trading Down 0.9%

The stock has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $46.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Direxion Daily Financial Bear 3X Shares during the 2nd quarter valued at about $175,000. Simplex Trading LLC purchased a new position in Direxion Daily Financial Bear 3X Shares during the 1st quarter valued at about $406,000. Headlands Technologies LLC grew its holdings in Direxion Daily Financial Bear 3X Shares by 36,033.3% during the 1st quarter. Headlands Technologies LLC now owns 13,008 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 12,972 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in Direxion Daily Financial Bear 3X Shares by 142.4% during the 2nd 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. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Direxion Daily Financial Bear 3X Shares during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Company Profile

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.