Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Sees Significant Growth in Short Interest

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 318,241 shares, an increase of 100.8% from the December 15th total of 158,461 shares. Currently, 12.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,044,920 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 1,044,920 shares, the short-interest ratio is currently 0.3 days. Currently, 12.8% of the company’s shares are sold short.

Direxion Daily Financial Bear 3X Shares Price Performance

Shares of Direxion Daily Financial Bear 3X Shares stock traded down $0.08 during midday trading on Friday, reaching $39.16. The company had a trading volume of 630,631 shares, compared to its average volume of 1,365,228. The stock has a fifty day moving average price of $40.35 and a 200 day moving average price of $41.98. Direxion Daily Financial Bear 3X Shares has a fifty-two week low of $34.87 and a fifty-two week high of $87.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in Direxion Daily Financial Bear 3X Shares during the second quarter worth $175,000. Squarepoint Ops LLC boosted its position in Direxion Daily Financial Bear 3X Shares by 48.7% during the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after acquiring an additional 71,516 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 15,221 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Direxion Daily Financial Bear 3X Shares by 119.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 10,002 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 9.56% of the company’s stock.

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.