Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Trading Up 9.4% – Still a Buy?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s share price traded up 9.4% on Friday . The stock traded as high as $84.29 and last traded at $86.46. Approximately 366,646 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 893,334 shares. The stock had previously closed at $79.02.

Direxion Daily Regional Banks Bull 3x Shares Stock Performance

The business has a 50-day moving average of $91.68 and a 200-day moving average of $91.22. The stock has a market capitalization of $860.35 million, a price-to-earnings ratio of 10.48 and a beta of 2.67.

Hedge Funds Weigh In On Direxion Daily Regional Banks Bull 3x Shares

A number of hedge funds have recently modified their holdings of DPST. Pin Oak Investment Advisors Inc. purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares in the 3rd quarter valued at $40,000. Orion Porfolio Solutions LLC increased its stake in Direxion Daily Regional Banks Bull 3x Shares by 4.9% in the third quarter. Orion Porfolio Solutions LLC now owns 4,462 shares of the company’s stock valued at $446,000 after purchasing an additional 209 shares during the period. Choreo LLC purchased a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares in the third quarter valued at about $200,000. Great Hill Capital LLC acquired a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares during the third quarter worth about $307,000. Finally, IMC Chicago LLC grew its holdings in shares of Direxion Daily Regional Banks Bull 3x Shares by 329.1% during the third quarter. IMC Chicago LLC now owns 60,257 shares of the company’s stock worth $6,029,000 after buying an additional 46,213 shares during the last quarter.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.