Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Price Pass Below Fifty Day Moving Average of $31.65

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $31.65 and traded as low as $30.12. Direxion Daily Financial Bear 3X Shares shares last traded at $30.12, with a volume of 1,129 shares traded.

The firm’s 50-day moving average is $31.65 and its two-hundred day moving average is $29.27.

A number of hedge funds have recently added to or reduced their stakes in FAZ. Terril Brothers Inc. acquired a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at about $1,897,000. Capital Investment Advisory Services LLC acquired a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at about $55,000. Bank of Montreal Can acquired a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at about $385,000. US Bancorp DE raised its holdings in Direxion Daily Financial Bear 3X Shares by 3,077.6% in the 2nd quarter. US Bancorp DE now owns 4,830 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 4,678 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Direxion Daily Financial Bear 3X Shares by 244.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,950 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 13,451 shares during the last quarter.

Direxion Daily Financial Bear 3X Shares Company Profile (NYSEARCA:FAZ)

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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