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

Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $41.27 and traded as low as $30.71. Direxion Daily Financial Bear 3X Shares shares last traded at $31.10, with a volume of 1,322,563 shares.

Direxion Daily Financial Bear 3X Shares Trading Up 2.3%

The business’s fifty day simple moving average is $33.05 and its 200-day simple moving average is $41.27.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC increased its holdings 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 acquiring an additional 71,516 shares during the last quarter. UBS Group AG lifted its stake in Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after purchasing an additional 26,944 shares in the last quarter. Jump Financial LLC bought a new position in shares of Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at about $1,554,000. Quadrature Capital Ltd bought a new position in shares of Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at about $1,466,000. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at about $202,000. Institutional investors own 9.56% of the company’s stock.

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.