Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Gap Down – Here’s Why

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) gapped down before the market opened on Monday . The stock had previously closed at $176.48, but opened at $170.00. Direxion Daily Financial Bull 3X Shares shares last traded at $171.0420, with a volume of 381,597 shares traded.

Direxion Daily Financial Bull 3X Shares Price Performance

The company has a fifty day moving average of $167.22 and a two-hundred day moving average of $169.21. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.11 and a beta of 3.02.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were issued a $12.0949 dividend. This is a boost from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39. This represents a $48.38 dividend on an annualized basis and a yield of 29.9%. The ex-dividend date of this dividend was Wednesday, December 10th.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. bought a new position in Direxion Daily Financial Bull 3X Shares in the third quarter worth about $518,000. Ellis Investment Partners LLC raised its position in shares of Direxion Daily Financial Bull 3X Shares by 13.0% during the 2nd quarter. Ellis Investment Partners LLC now owns 2,744 shares of the real estate investment trust’s stock worth $463,000 after purchasing an additional 315 shares during the period. Rovin Capital UT ADV lifted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 12.6% in the 2nd quarter. Rovin Capital UT ADV now owns 6,033 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 675 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 49.3% in the 2nd quarter. Avestar Capital LLC now owns 23,590 shares of the real estate investment trust’s stock worth $3,977,000 after purchasing an additional 7,792 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in Direxion Daily Financial Bull 3X Shares by 210.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $1,243,000 after purchasing an additional 5,000 shares during the period. 3.51% of the stock is owned by institutional investors and hedge funds.

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. 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.