Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Trading Down 11.4% – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) traded down 11.4% during trading on Tuesday . The company traded as low as $162.49 and last traded at $159.36. 370,219 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 705,370 shares. The stock had previously closed at $179.78.

Direxion Daily Financial Bull 3X Shares Price Performance

The stock has a market capitalization of $2.48 billion, a PE ratio of 16.35 and a beta of 3.20. The company’s 50 day moving average price is $168.31 and its two-hundred day moving average price is $153.02.

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

A number of hedge funds have recently made changes to their positions in the stock. Silicon Valley Capital Partners acquired a new position in Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth $64,000. James J. Burns & Company LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares during the third quarter worth approximately $234,000. Hollencrest Capital Management acquired a new position in Direxion Daily Financial Bull 3X Shares during the third quarter worth approximately $42,000. Addison Advisors LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the third quarter valued at approximately $39,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 11.4% during the third quarter. PNC Financial Services Group Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 832 shares during the period. Hedge funds and other institutional investors own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X Shares Company Profile

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% 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.