Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Price Pass Below Fifty Day Moving Average – What’s Next?

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $42.00 and traded as low as $36.51. Direxion Daily Financial Bear 3X Shares shares last traded at $37.23, with a volume of 952,450 shares trading hands.

Direxion Daily Financial Bear 3X Shares Stock Up 1.6%

The company’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $42.93.

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

A number of hedge funds have recently modified their holdings of FAZ. FNY Investment Advisers LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at approximately $175,000. Squarepoint Ops LLC increased its position in shares of Direxion Daily Financial Bear 3X Shares by 48.7% during the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock worth $959,000 after acquiring an additional 71,516 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 15,221 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at $44,000. Finally, SBI Securities Co. Ltd. boosted its stake in Direxion Daily Financial Bear 3X Shares by 119.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 10,002 shares during the period. Institutional investors and hedge funds own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Company Profile

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.