Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Down 16% – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares were down 16% on Friday . The stock traded as low as $116.76 and last traded at $115.32. Approximately 576,830 shares were traded during trading, a decline of 21% from the average daily volume of 731,876 shares. The stock had previously closed at $137.28.

Direxion Daily Financial Bull 3X Shares Stock Down 21.7 %

The stock’s fifty day moving average price is $165.56 and its 200-day moving average price is $157.20. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.81 and a beta of 2.92.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.4558 per share. The ex-dividend date was Tuesday, March 25th. This is a boost from Direxion Daily Financial Bull 3X Shares’s previous dividend of $0.32.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter worth approximately $8,206,000. Tower Research Capital LLC TRC raised its stake in Direxion Daily Financial Bull 3X Shares by 5,659.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 42,674 shares of the real estate investment trust’s stock worth $6,443,000 after purchasing an additional 41,933 shares in the last quarter. Avestar Capital LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the fourth quarter worth approximately $4,180,000. Captrust Financial Advisors grew its position in Direxion Daily Financial Bull 3X Shares by 20.4% during the third quarter. Captrust Financial Advisors now owns 4,920 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 835 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter valued at $669,000. Institutional investors own 3.51% of the company’s stock.

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.