Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Shares Gap Down – Time to Sell?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $132.47, but opened at $126.38. Direxion Daily Regional Banks Bull 3x Shares shares last traded at $125.98, with a volume of 194,518 shares changing hands.

Direxion Daily Regional Banks Bull 3x Shares Price Performance

The firm has a 50 day moving average of $122.40 and a two-hundred day moving average of $114.48. The stock has a market cap of $1.24 billion, a PE ratio of 105.26 and a beta of 3.98.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC increased its stake in Direxion Daily Regional Banks Bull 3x Shares by 8.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,801 shares of the company’s stock valued at $418,000 after purchasing an additional 294 shares during the period. X Square Capital LLC purchased a new position in shares of Direxion Daily Regional Banks Bull 3x Shares during the fourth quarter worth about $505,000. Virtu Financial LLC acquired a new position in Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter valued at about $935,000. Hollencrest Capital Management purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares during the 4th quarter valued at approximately $28,000. Finally, Lindbrook Capital LLC purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares during the 4th quarter valued at approximately $77,000.

Direxion Daily Regional Banks Bull 3x Shares Company Profile

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.