Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Price Pass Below 200 Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.56 and traded as low as $31.01. Direxion Daily Financial Bear 3X Shares shares last traded at $31.52, with a volume of 460,321 shares traded.

Direxion Daily Financial Bear 3X Shares Price Performance

The company has a 50-day moving average price of $36.19 and a two-hundred day moving average price of $42.50.

Institutional Investors Weigh In On Direxion Daily Financial Bear 3X Shares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Group One Trading LLC boosted its position in shares of Direxion Daily Financial Bear 3X Shares by 7.4% in the first quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 438 shares during the period. Gunderson Capital Management LLC bought a new stake in Direxion Daily Financial Bear 3X Shares during the 1st quarter worth approximately $4,972,000. Virtu Financial LLC bought a new stake in Direxion Daily Financial Bear 3X Shares during the 4th quarter worth approximately $202,000. Quadrature Capital Ltd purchased a new stake in Direxion Daily Financial Bear 3X Shares in the 4th quarter worth approximately $1,466,000. Finally, Jump Financial LLC purchased a new stake in Direxion Daily Financial Bear 3X Shares in the 4th quarter worth approximately $1,554,000. 9.56% of the stock is currently owned by institutional investors.

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.