Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 12-Month High – Here’s What Happened

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $187.25 and last traded at $185.45, with a volume of 88767 shares traded. The stock had previously closed at $182.35.

Direxion Daily Financial Bull 3X Shares Stock Performance

The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 15.11 and a beta of 2.59. The business has a fifty day moving average of $154.96 and a two-hundred day moving average of $142.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Direxion Daily Financial Bull 3X Shares by 110.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,907 shares of the real estate investment trust’s stock worth $322,000 after buying an additional 999 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the second quarter valued at about $215,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the second quarter valued at approximately $1,416,000. Qube Research & Technologies Ltd purchased a new position in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth approximately $486,000. Finally, Bank of America Corp DE increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 64.2% during the 2nd quarter. Bank of America Corp DE now owns 4,137 shares of the real estate investment trust’s stock worth $697,000 after purchasing an additional 1,618 shares in the last quarter. 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. 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.