Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Below 200 Day Moving Average – Here’s Why

Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.66 and traded as low as $42.99. Direxion Daily Financial Bear 3X Shares shares last traded at $44.11, with a volume of 396,728 shares trading hands.

Direxion Daily Financial Bear 3X Shares Price Performance

The business’s 50-day moving average price is $47.70 and its 200 day moving average price is $43.66.

Hedge Funds Weigh In On Direxion Daily Financial Bear 3X Shares

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $202,000. UBS Group AG raised its stake in Direxion Daily Financial Bear 3X Shares by 5,908.8% in the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 26,944 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $1,466,000. Jump Financial LLC purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $1,554,000. Finally, Squarepoint Ops LLC raised its stake in Direxion Daily Financial Bear 3X Shares by 48.7% in the second 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 in the last quarter. 9.56% of the stock is currently owned by institutional investors.

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. 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.