Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Trading Down 7.3% – What’s Next?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) traded down 7.3% during mid-day trading on Friday . The company traded as low as $121.25 and last traded at $123.32. 404,750 shares were traded during mid-day trading, a decline of 52% from the average session volume of 842,787 shares. The stock had previously closed at $133.00.

Direxion Daily Financial Bull 3X Shares Trading Down 5.9%

The company’s 50-day simple moving average is $154.70 and its 200 day simple moving average is $164.09. The stock has a market cap of $1.92 billion, a P/E ratio of 15.11 and a beta of 3.02.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were issued a dividend of $12.0949 per share. This represents a $48.38 dividend on an annualized basis and a yield of 38.6%. This is an increase from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, December 10th.

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

Several large investors have recently made changes to their positions in FAS. Beacon Pointe Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter worth $289,000. Quadrature Capital Ltd increased its holdings in Direxion Daily Financial Bull 3X Shares by 192.0% during the fourth quarter. Quadrature Capital Ltd now owns 36,808 shares of the real estate investment trust’s stock worth $6,196,000 after buying an additional 24,203 shares during the last quarter. Jump Financial LLC raised its position in Direxion Daily Financial Bull 3X Shares by 423.5% in the fourth quarter. Jump Financial LLC now owns 19,328 shares of the real estate investment trust’s stock worth $3,253,000 after acquiring an additional 15,636 shares during the period. Captrust Financial Advisors raised its position in Direxion Daily Financial Bull 3X Shares by 25.2% in the fourth quarter. Captrust Financial Advisors now owns 5,184 shares of the real estate investment trust’s stock worth $873,000 after acquiring an additional 1,044 shares during the period. Finally, 1248 Management LLC boosted its stake in Direxion Daily Financial Bull 3X Shares by 7.7% in the fourth quarter. 1248 Management LLC now owns 1,400 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 100 shares during the last quarter. 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.