Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Price Up 3.8% – Time to Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares traded up 3.8% on Monday . The stock traded as high as $157.50 and last traded at $158.14. 681,065 shares traded hands during trading, an increase of 6% from the average session volume of 640,766 shares. The stock had previously closed at $152.34.

Direxion Daily Financial Bull 3X Shares Trading Up 3.8 %

The stock’s fifty day simple moving average is $168.18 and its 200 day simple moving average is $156.75. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 14.81 and a beta of 2.92.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a dividend of $0.4558 per share. This is a boost from Direxion Daily Financial Bull 3X Shares’s previous dividend of $0.32. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Financial Bull 3X Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 5,659.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 42,674 shares of the real estate investment trust’s stock valued at $6,443,000 after acquiring an additional 41,933 shares during the period. DRW Securities LLC purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the fourth quarter valued at approximately $201,000. Bank of Montreal Can lifted its holdings in Direxion Daily Financial Bull 3X Shares by 81.6% during the 4th quarter. Bank of Montreal Can now owns 454 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 204 shares in the last quarter. Wells Fargo & Company MN purchased a new position in Direxion Daily Financial Bull 3X Shares in the 4th quarter valued at approximately $117,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the fourth quarter worth $313,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

About Direxion Daily Financial Bull 3X Shares

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.