Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Pass Above 200 Day Moving Average – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $157.25 and traded as high as $161.82. Direxion Daily Financial Bull 3X Shares shares last traded at $161.82, with a volume of 456,778 shares changing hands.

Direxion Daily Financial Bull 3X Shares Trading Up 2.9%

The company has a 50-day simple moving average of $162.55 and a 200 day simple moving average of $157.25. The company has a market cap of $2.54 billion, a P/E ratio of 15.11 and a beta of 3.10.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FAS. LPL Financial LLC raised its holdings in shares of Direxion Daily Financial Bull 3X Shares by 651.8% in the first quarter. LPL Financial LLC now owns 46,469 shares of the real estate investment trust’s stock valued at $7,348,000 after acquiring an additional 40,288 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Direxion Daily Financial Bull 3X Shares by 5,659.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 42,674 shares of the real estate investment trust’s stock valued at $6,443,000 after purchasing an additional 41,933 shares during the period. Variant Private Wealth LLC purchased a new position in Direxion Daily Financial Bull 3X Shares during the 1st quarter valued at about $2,201,000. Ethos Financial Group LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 1st quarter valued at about $891,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily Financial Bull 3X Shares by 4.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,618 shares of the real estate investment trust’s stock worth $730,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X Shares 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.