Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Hits New 12-Month High – Time to Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $187.25 and last traded at $185.45, with a volume of 88767 shares changing hands. The stock had previously closed at $182.35.

Direxion Daily Financial Bull 3X Shares Stock Down 1.2%

The stock has a market capitalization of $2.47 billion, a P/E ratio of 15.11 and a beta of 2.59. The stock’s 50 day moving average price is $157.04 and its 200-day moving average price is $142.64.

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

A number of hedge funds have recently made changes to their positions in the stock. Group One Trading LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the 1st quarter worth approximately $1,039,000. Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Financial Bull 3X Shares by 3,447.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,260 shares of the real estate investment trust’s stock worth $2,400,000 after purchasing an additional 13,858 shares during the last quarter. Allworth Financial LP increased its position in shares of Direxion Daily Financial Bull 3X Shares by 7.4% during the fourth quarter. Allworth Financial LP now owns 5,490 shares of the real estate investment trust’s stock worth $924,000 after purchasing an additional 376 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 38.4% during the 4th quarter. Sanctuary Advisors LLC now owns 2,040 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 566 shares during the last quarter. Finally, Ellis Investment Partners LLC boosted its position in shares of Direxion Daily Financial Bull 3X Shares by 11.8% in the 4th quarter. Ellis Investment Partners LLC now owns 3,458 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 364 shares in the last quarter. 3.51% of the stock is currently owned by hedge funds and other institutional investors.

About Direxion Daily Financial Bull 3X Shares

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.