Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Cross Below Two Hundred Day Moving Average – Here’s Why

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $42.93 and traded as low as $31.83. Direxion Daily Financial Bear 3X Shares shares last traded at $32.11, with a volume of 759,024 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Down 0.8%

The company has a fifty day moving average of $37.59 and a two-hundred day moving average of $42.81.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Direxion Daily Financial Bear 3X Shares in the fourth quarter worth $202,000. Group One Trading LLC raised its holdings in shares of Direxion Daily Financial Bear 3X Shares by 7.4% during the first quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 438 shares during the period. UBS Group AG lifted its position in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 26,944 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter worth about $1,466,000. Finally, Jump Financial LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at about $1,554,000. 9.56% of the stock is owned by institutional investors and hedge funds.

Direxion Daily Financial Bear 3X Shares Company Profile

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.