Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) Stock Crosses Above 50-Day Moving Average – What’s Next?

Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $32.56 and traded as high as $33.41. Direxion Daily Financial Bear 3X ETF shares last traded at $32.97, with a volume of 2,091,012 shares.

Direxion Daily Financial Bear 3X ETF Stock Up 4.7%

The firm’s 50 day moving average is $32.54 and its two-hundred day moving average is $40.62.

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

An institutional investor recently raised its position in Direxion Daily Financial Bear 3X ETF stock. Group One Trading LLC lifted its holdings in Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,330 shares of the real estate investment trust’s stock after acquiring an additional 438 shares during the period. Group One Trading LLC owned approximately 0.23% of Direxion Daily Financial Bear 3X ETF worth $321,000 as of its most recent filing with the Securities and Exchange Commission. 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.