Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ) Shares Cross Below 200-Day Moving Average – Should You Sell?

Direxion Daily Financial Bear 3X ETF (NYSEARCA:FAZ)’s share price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $38.58 and traded as low as $34.37. Direxion Daily Financial Bear 3X ETF shares last traded at $35.39, with a volume of 1,231,114 shares traded.

Direxion Daily Financial Bear 3X ETF Trading Down 1.2%

The company has a fifty day simple moving average of $34.22 and a two-hundred day simple moving average of $38.58.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direxion Daily Financial Bear 3X ETF stock. Group One Trading LLC increased its stake 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 SEC. The fund owned 6,330 shares of the real estate investment trust’s stock after purchasing an additional 438 shares during the quarter. Group One Trading LLC owned approximately 0.23% of Direxion Daily Financial Bear 3X ETF worth $321,000 at the end of the most recent reporting period. 9.56% of the stock is currently owned by institutional investors and hedge funds.

Direxion Daily Financial Bear 3X ETF 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.