Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Cross Below 200-Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.81 and traded as low as $43.28. Direxion Daily Financial Bear 3X Shares shares last traded at $43.97, with a volume of 307,349 shares trading hands.

Direxion Daily Financial Bear 3X Shares Price Performance

The company’s 50-day simple moving average is $47.24 and its 200-day simple moving average is $43.81.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at approximately $202,000. Group One Trading LLC boosted its stake in shares of Direxion Daily Financial Bear 3X Shares by 7.4% in the 1st quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 438 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Direxion Daily Financial Bear 3X Shares by 48.7% in the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares during the last quarter. UBS Group AG boosted its stake in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 26,944 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $1,466,000. 9.56% of the stock is currently owned by institutional investors and hedge funds.

About Direxion Daily Financial Bear 3X Shares

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.