Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $152.79 and traded as high as $155.62. Direxion Daily Financial Bull 3X ETF shares last traded at $154.57, with a volume of 483,460 shares.

Direxion Daily Financial Bull 3X ETF Stock Performance

The firm has a fifty day simple moving average of $165.99 and a 200 day simple moving average of $152.82. The company has a market capitalization of $2.13 billion, a PE ratio of 15.11 and a beta of 2.62.

Hedge Funds Weigh In On Direxion Daily Financial Bull 3X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Direxion Daily Financial Bull 3X ETF by 18.9% during the first quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock valued at $2,986,000 after buying an additional 4,000 shares during the period. Mather Group LLC. purchased a new stake in shares of Direxion Daily Financial Bull 3X ETF in the 3rd quarter worth approximately $2,515,000. PNC Financial Services Group Inc. lifted its position in shares of Direxion Daily Financial Bull 3X ETF by 17.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock worth $1,130,000 after purchasing an additional 1,400 shares during the period. Group One Trading LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X ETF in the 1st quarter worth approximately $1,039,000. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily Financial Bull 3X ETF during the first quarter valued at approximately $221,000. Institutional investors own 3.51% of the company’s stock.

About Direxion Daily Financial Bull 3X ETF

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% 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.