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

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $45.40 and traded as low as $43.15. Direxion Daily Financial Bear 3X Shares shares last traded at $43.21, with a volume of 1,444,532 shares changing hands.

Direxion Daily Financial Bear 3X Shares Stock Down 2.0%

The firm’s 50 day moving average is $42.20 and its two-hundred day moving average is $45.30.

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

Several hedge funds have recently bought and sold shares of FAZ. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Direxion Daily Financial Bear 3X Shares during the 2nd quarter valued at $44,000. Headlands Technologies LLC raised its position in shares of Direxion Daily Financial Bear 3X Shares by 36,033.3% in the first quarter. Headlands Technologies LLC now owns 13,008 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 12,972 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of 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 buying an additional 10,002 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Direxion Daily Financial Bear 3X Shares by 142.4% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 15,221 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at about $175,000. 9.56% of the stock is currently owned by institutional investors and hedge funds.

Direxion Daily Financial Bear 3X Shares 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.