Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $27.04 and traded as low as $35.05. Direxion Daily Financial Bear 3X Shares shares last traded at $35.34, with a volume of 2,600 shares.
The company has a 50 day simple moving average of $28.21.
Several large investors have recently bought and sold shares of FAZ. Deutsche Bank AG acquired a new position in Direxion Daily Financial Bear 3X Shares during the fourth quarter valued at $602,000. Miracle Mile Advisors LLC lifted its position in Direxion Daily Financial Bear 3X Shares by 98.1% during the first quarter. Miracle Mile Advisors LLC now owns 30,700 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 15,200 shares during the period. Finally, XR Securities LLC acquired a new position in Direxion Daily Financial Bear 3X Shares during the second quarter valued at $319,000.
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.
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