Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $143.02 and traded as high as $150.77. Direxion Daily Financial Bull 3X Shares shares last traded at $148.12, with a volume of 341,798 shares.

Direxion Daily Financial Bull 3X Shares Trading Up 6.7%

The firm’s fifty day moving average is $137.51 and its 200-day moving average is $142.93. The stock has a market capitalization of $2.32 billion, a PE ratio of 15.11 and a beta of 2.59.

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

Several hedge funds have recently modified their holdings of FAS. Renaissance Technologies LLC lifted its holdings in Direxion Daily Financial Bull 3X Shares by 18.9% in the first quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock valued at $2,986,000 after acquiring an additional 4,000 shares during the period. Group One Trading LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 1st quarter worth about $1,039,000. PNC Financial Services Group Inc. increased its stake in Direxion Daily Financial Bull 3X Shares by 17.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock valued at $1,130,000 after purchasing an additional 1,400 shares during the last quarter. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 1st quarter valued at $221,000. Finally, Bogart Wealth LLC grew its position in Direxion Daily Financial Bull 3X Shares by 37.5% during the first quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 300 shares during the period. 3.51% of the stock is owned by institutional investors and hedge funds.

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.