Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Below 50-Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $42.10 and traded as low as $34.88. Direxion Daily Financial Bear 3X Shares shares last traded at $36.39, with a volume of 538,320 shares traded.

Direxion Daily Financial Bear 3X Shares Trading Down 0.6%

The business has a 50-day moving average of $41.75 and a 200 day moving average of $43.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gunderson Capital Management LLC bought a new stake in Direxion Daily Financial Bear 3X Shares during the first quarter valued at about $4,972,000. Squarepoint Ops LLC boosted its holdings in 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 worth $959,000 after buying an additional 71,516 shares during the period. Jump Financial LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $1,554,000. Quadrature Capital Ltd purchased a new position in Direxion Daily Financial Bear 3X Shares in the 4th quarter worth approximately $1,466,000. Finally, UBS Group AG lifted its holdings in 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 worth $1,108,000 after purchasing an additional 26,944 shares in the last quarter. Hedge funds and other institutional investors 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.