Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Stock Price Down 3.7% – Here’s What Happened

Shares of Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) traded down 3.7% during mid-day trading on Tuesday . The stock traded as low as $157.00 and last traded at $157.0440. Approximately 130,195 shares changed hands during trading, a decline of 81% from the average session volume of 668,541 shares. The stock had previously closed at $163.11.

Direxion Daily Financial Bull 3X ETF Stock Performance

The business has a 50-day moving average price of $175.58 and a 200 day moving average price of $149.29. The stock has a market capitalization of $1.93 billion, a P/E ratio of 15.11 and a beta of 2.57.

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

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Direxion Daily Financial Bull 3X ETF by 18.9% in the 1st quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 4,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Direxion Daily Financial Bull 3X ETF by 3,447.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,260 shares of the real estate investment trust’s stock valued at $2,400,000 after purchasing an additional 13,858 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Direxion Daily Financial Bull 3X ETF by 17.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock valued at $1,130,000 after purchasing an additional 1,400 shares during the last quarter. Group One Trading LLC purchased a new stake in Direxion Daily Financial Bull 3X ETF during the 1st quarter valued at about $1,039,000. Finally, IMC Chicago LLC bought a new stake in Direxion Daily Financial Bull 3X ETF during the 1st quarter valued at about $221,000. 3.51% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily Financial Bull 3X ETF Company Profile

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.