Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Pass Above 200-Day Moving Average – Should You Sell?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $130.43 and traded as high as $151.64. Direxion Daily Financial Bull 3X Shares shares last traded at $145.23, with a volume of 717,964 shares traded.

Direxion Daily Financial Bull 3X Shares Stock Performance

The stock has a 50 day simple moving average of $158.87 and a two-hundred day simple moving average of $130.76.

Hedge Funds Weigh In On Direxion Daily Financial Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in Direxion Daily Financial Bull 3X Shares by 126.8% in the second quarter. Commonwealth Equity Services LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 2,298 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth about $44,000. Virtu Financial LLC acquired a new position in Direxion Daily Financial Bull 3X Shares in the second quarter valued at about $1,149,000. Stratos Wealth Advisors LLC purchased a new position in Direxion Daily Financial Bull 3X Shares during the third quarter worth about $210,000. Finally, Toth Financial Advisory Corp increased its position in shares of Direxion Daily Financial Bull 3X Shares by 1.9% during the third quarter. Toth Financial Advisory Corp now owns 13,403 shares of the real estate investment trust’s stock valued at $1,740,000 after acquiring an additional 250 shares during the last quarter. 3.51% of the stock is currently owned by institutional investors and hedge funds.

About Direxion Daily Financial Bull 3X Shares

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.