Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Shares Up 6.8%

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shot up 6.8% during trading on Friday . The stock traded as high as $41.16 and last traded at $40.56, 1,395,331 shares changed hands during mid-day trading. An increase of 163% from the average session volume of 530,937 shares. The stock had previously closed at $37.97.

The company has a 50 day moving average of $37.09 and a 200 day moving average of $16.90.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at approximately $55,000. US Bancorp DE grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 3,077.6% in the 2nd quarter. US Bancorp DE now owns 4,830 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 4,678 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 98.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 30,700 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 15,200 shares in the last quarter. XR Securities LLC bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at approximately $319,000. Finally, Bank of Montreal Can bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at approximately $385,000.

Direxion Daily Financial Bear 3X Shares Company Profile (NYSEARCA:FAZ)

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.

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