Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Trading Down 7.8% – Should You Sell?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s share price traded down 7.8% on Monday . The stock traded as low as $127.80 and last traded at $122.8510. 64,141 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 487,248 shares. The stock had previously closed at $133.28.

Direxion Daily Regional Banks Bull 3x Shares Price Performance

The stock has a 50 day moving average of $118.47 and a 200 day moving average of $104.28. The firm has a market cap of $607.27 million, a P/E ratio of 10.48 and a beta of 2.67.

Hedge Funds Weigh In On Direxion Daily Regional Banks Bull 3x Shares

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares in the fourth quarter worth $1,523,000. XTX Topco Ltd purchased a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares during the fourth quarter valued at approximately $244,000. Quadrature Capital Ltd bought a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter worth $3,841,000. Jump Financial LLC purchased a new position in Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter worth about $360,000. Finally, Tower Research Capital LLC TRC lifted its position in Direxion Daily Regional Banks Bull 3x Shares by 109.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 42,423 shares of the company’s stock valued at $4,286,000 after purchasing an additional 22,178 shares during the period.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.