Tower Research Capital LLC TRC boosted its stake in Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) by 2,234.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,239 shares of the real estate investment trust’s stock after purchasing an additional 112,217 shares during the period. Tower Research Capital LLC TRC’s holdings in Direxion Daily Financial Bear 3X Shares were worth $1,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Citigroup Inc. increased its holdings in Direxion Daily Financial Bear 3X Shares by 14.3% in the 2nd quarter. Citigroup Inc. now owns 399,999 shares of the real estate investment trust’s stock valued at $6,772,000 after purchasing an additional 50,000 shares in the last quarter. Virtu KCG Holdings LLC increased its holdings in Direxion Daily Financial Bear 3X Shares by 148.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 60,959 shares of the real estate investment trust’s stock valued at $1,032,000 after purchasing an additional 36,380 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at $674,000.

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Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA FAZ) traded up 0.14% during mid-day trading on Friday, reaching $13.90. The company had a trading volume of 1,020,542 shares. Direxion Daily Financial Bear 3X Shares has a 52-week low of $13.79 and a 52-week high of $33.49. The company’s 50-day moving average is $15.67 and its 200 day moving average is $17.46.

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.

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