Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Sees Significant Decline in Short Interest

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 523,011 shares, a drop of 36.9% from the July 30th total of 828,686 shares. Based on an average trading volume of 284,507 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.8% of the shares of the company are sold short.

Direxion Daily Financial Bull 3X Shares Stock Performance

Shares of NYSEARCA FAS traded down $4.72 during midday trading on Tuesday, reaching $174.34. The company’s stock had a trading volume of 243,170 shares, compared to its average volume of 695,232. The company has a market cap of $2.37 billion, a P/E ratio of 15.11 and a beta of 2.59. The business’s 50 day moving average price is $171.06 and its two-hundred day moving average price is $145.73. Direxion Daily Financial Bull 3X Shares has a fifty-two week low of $106.90 and a fifty-two week high of $187.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FAS. Morse Asset Management Inc boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 31.9% in the 3rd quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 79 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Direxion Daily Financial Bull 3X Shares by 7.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 1,246 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 87 shares during the last quarter. 1248 Management LLC boosted its stake in Direxion Daily Financial Bull 3X Shares by 7.7% during the fourth quarter. 1248 Management LLC now owns 1,400 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 100 shares during the period. Ieq Capital LLC boosted its stake in Direxion Daily Financial Bull 3X Shares by 7.5% during the fourth quarter. Ieq Capital LLC now owns 1,512 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 105 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Direxion Daily Financial Bull 3X Shares by 7.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,310 shares of the real estate investment trust’s stock valued at $557,000 after acquiring an additional 229 shares during the last quarter. 3.51% of the stock is owned by institutional investors.

Direxion Daily Financial Bull 3X Shares Company Profile

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.