Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.94, but opened at $8.78. Direxion Daily Financial Bear 3X Shares shares last traded at $8.39, with a volume of 59671 shares trading hands.

Institutional investors and hedge funds have recently made changes to their positions in the business. Miracle Mile Advisors LLC grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 98.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 30,700 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 15,200 shares during the period. Deutsche Bank AG bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at approximately $602,000. Financial Counselors Inc. grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 12.0% in the 4th quarter. Financial Counselors Inc. now owns 14,000 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,500 shares during the period. Simplex Trading LLC bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at approximately $2,051,000. Finally, Morgan Stanley grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 25.4% in the 3rd quarter. Morgan Stanley now owns 262,033 shares of the real estate investment trust’s stock valued at $2,544,000 after purchasing an additional 53,057 shares during the period.

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About Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)

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.

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