Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Stock Price Cross Below Two Hundred Day Moving Average – Time to Sell?

Shares of Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.21 and traded as low as $24.66. Direxion Daily Real Estate Bear 3X Shares shares last traded at $24.79, with a volume of 162,097 shares traded.

Direxion Daily Real Estate Bear 3X Shares Stock Down 2.3 %

The firm has a fifty day simple moving average of $28.27 and a 200-day simple moving average of $26.21.

Hedge Funds Weigh In On Direxion Daily Real Estate Bear 3X Shares

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter worth about $28,000. Walleye Capital LLC purchased a new stake in shares of Direxion Daily Real Estate Bear 3X Shares in the fourth quarter worth $203,000. Finally, Virtu Financial LLC raised its position in shares of Direxion Daily Real Estate Bear 3X Shares by 184.5% in the 4th quarter. Virtu Financial LLC now owns 50,585 shares of the company’s stock worth $1,491,000 after purchasing an additional 32,804 shares during the last quarter.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.