Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Stock Price Down 3.7% – Here’s Why

Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS)’s share price traded down 3.7% on Tuesday . The stock traded as low as $157.00 and last traded at $157.0440. Approximately 130,195 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 668,541 shares. The stock had previously closed at $163.11.

Direxion Daily Financial Bull 3X ETF Trading Down 7.0%

The stock has a market cap of $1.93 billion, a P/E ratio of 15.11 and a beta of 2.57. The business has a 50-day simple moving average of $175.58 and a 200 day simple moving average of $149.29.

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

A number of institutional investors have recently modified their holdings of FAS. Renaissance Technologies LLC grew its holdings in shares of Direxion Daily Financial Bull 3X ETF by 18.9% during the 1st quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock valued at $2,986,000 after purchasing an additional 4,000 shares during the last quarter. Group One Trading LLC bought a new stake in Direxion Daily Financial Bull 3X ETF during the 1st quarter valued at $1,039,000. PNC Financial Services Group Inc. raised its holdings in Direxion Daily Financial Bull 3X ETF by 17.2% during the 1st 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 buying an additional 1,400 shares during the last quarter. IMC Chicago LLC purchased a new stake in Direxion Daily Financial Bull 3X ETF during the 1st quarter valued at $221,000. Finally, Bogart Wealth LLC boosted its position in Direxion Daily Financial Bull 3X ETF by 37.5% during the 1st quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 300 shares during the period. 3.51% of the stock is owned by institutional investors.

Direxion Daily Financial Bull 3X ETF 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.