Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ – Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $33.01 and traded as high as $39.60. Direxion Daily Financial Bear 3X ETF shares last traded at $39.55, with a volume of 739,689 shares.
Direxion Daily Financial Bear 3X ETF Trading Down 0.1%
The stock’s 50-day simple moving average is $33.10 and its 200 day simple moving average is $39.65.
Institutional Investors Weigh In On Direxion Daily Financial Bear 3X ETF
A hedge fund recently bought a new position in Direxion Daily Financial Bear 3X ETF stock. Gunderson Capital Management LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 97,997 shares of the real estate investment trust’s stock, valued at approximately $4,972,000. Direxion Daily Financial Bear 3X ETF accounts for 2.1% of Gunderson Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Gunderson Capital Management LLC owned approximately 3.40% of Direxion Daily Financial Bear 3X ETF as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.56% of the company’s stock.
About Direxion Daily Financial Bear 3X ETF
Direxion Daily Financial Bear 3x Shares (the Fund) seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) 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.
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