Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Shares Cross Below 200 Day Moving Average – Here’s Why

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.13 and traded as low as $16.54. Direxion Daily Real Estate Bear 3X Shares shares last traded at $16.82, with a volume of 151,964 shares trading hands.

Direxion Daily Real Estate Bear 3X Shares Price Performance

The stock has a 50-day simple moving average of $18.69 and a 200-day simple moving average of $21.13.

Institutional Investors Weigh In On Direxion Daily Real Estate Bear 3X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in DRV. Group One Trading LLC increased its position in Direxion Daily Real Estate Bear 3X Shares by 106.9% during the 2nd quarter. Group One Trading LLC now owns 3,662 shares of the company’s stock worth $92,000 after purchasing an additional 1,892 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter valued at approximately $265,000. Quadrature Capital Ltd acquired a new stake in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter valued at approximately $335,000. Finally, Virtu Financial LLC grew its stake in shares of Direxion Daily Real Estate Bear 3X Shares by 17.6% during the fourth quarter. Virtu Financial LLC now owns 37,463 shares of the company’s stock worth $994,000 after buying an additional 5,614 shares during the last quarter.

Direxion Daily Real Estate Bear 3X Shares Company Profile

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.