Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Short Interest Down 36.9% in August

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 523,011 shares, a decline of 36.9% from the July 30th total of 828,686 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average trading volume of 284,507 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

A number of hedge funds have recently added to or reduced their stakes in FAS. Renaissance Technologies LLC grew its holdings in Direxion Daily Financial Bull 3X Shares by 18.9% in the 1st quarter. Renaissance Technologies LLC now owns 25,200 shares of the real estate investment trust’s stock valued at $2,986,000 after buying an additional 4,000 shares during the period. Group One Trading LLC purchased a new position in shares of Direxion Daily Financial Bull 3X Shares during the 1st quarter worth about $1,039,000. PNC Financial Services Group Inc. lifted its holdings in shares of Direxion Daily Financial Bull 3X Shares 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 worth $1,130,000 after acquiring an additional 1,400 shares during the period. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter worth approximately $221,000. Finally, Bogart Wealth LLC boosted its position in shares of Direxion Daily Financial Bull 3X Shares by 37.5% in the first quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 300 shares during the last quarter. 3.51% of the stock is owned by institutional investors and hedge funds.

Direxion Daily Financial Bull 3X Shares Stock Up 2.8%

Shares of Direxion Daily Financial Bull 3X Shares stock opened at $179.25 on Wednesday. Direxion Daily Financial Bull 3X Shares has a fifty-two week low of $106.90 and a fifty-two week high of $187.25. The business’s fifty day moving average is $171.55 and its two-hundred day moving average is $145.92. The firm has a market cap of $2.44 billion, a PE ratio of 15.11 and a beta of 2.59.

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.