Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Pass Above 50-Day Moving Average – Should You Sell?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $43.93 and traded as high as $53.40. Direxion Daily Financial Bear 3X Shares shares last traded at $53.31, with a volume of 552,198 shares.

Direxion Daily Financial Bear 3X Shares Stock Performance

The firm’s 50 day moving average price is $44.60 and its two-hundred day moving average price is $42.51.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FAZ. Squarepoint Ops LLC lifted its position in Direxion Daily Financial Bear 3X Shares by 48.7% during the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock worth $959,000 after buying an additional 71,516 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily Financial Bear 3X Shares during the 4th quarter worth about $1,466,000. Jump Financial LLC bought a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at about $1,554,000. UBS Group AG grew its holdings in shares of 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 valued at $1,108,000 after acquiring an additional 26,944 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at about $202,000. Institutional investors own 9.56% of the company’s stock.

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.