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

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

Direxion Daily Financial Bear 3X Shares Trading Down 0.2%

Shares of FAZ opened at $39.16 on Friday. Direxion Daily Financial Bear 3X Shares has a 52 week low of $34.87 and a 52 week high of $87.90. The firm’s 50-day simple moving average is $40.35 and its 200 day simple moving average is $41.98.

Institutional Trading of Direxion Daily Financial Bear 3X Shares

Several hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its stake in Direxion Daily Financial Bear 3X Shares by 48.7% in the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares in the second quarter valued at about $175,000. UBS Group AG increased its position in Direxion Daily Financial Bear 3X Shares by 5,908.8% during the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after acquiring an additional 26,944 shares during the period. Johnson Investment Counsel Inc. raised its stake in Direxion Daily Financial Bear 3X Shares by 142.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 15,221 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Direxion Daily Financial Bear 3X Shares by 119.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 10,002 shares in the last quarter. 9.56% of the stock is 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. 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.