Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Shares Pass Below 200-Day Moving Average – What’s Next?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.75 and traded as low as $30.89. Direxion Daily Financial Bear 3X Shares shares last traded at $31.40, with a volume of 609,405 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Performance

The firm’s 50 day moving average is $33.82 and its 200-day moving average is $41.67.

Hedge Funds Weigh In On Direxion Daily Financial Bear 3X Shares

A number of institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC raised its position in Direxion Daily Financial Bear 3X Shares by 48.7% in the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares during the period. Gunderson Capital Management LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares in the first quarter valued at approximately $4,972,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $1,554,000. Quadrature Capital Ltd purchased a new stake in Direxion Daily Financial Bear 3X Shares during the 4th quarter worth about $1,466,000. Finally, UBS Group AG boosted its position in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% during the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after acquiring an additional 26,944 shares in the last quarter. 9.56% of the stock is owned by hedge funds and other institutional investors.

About Direxion Daily Financial Bear 3X Shares

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.