Traders Buy Large Volume of Direxion Daily Financial Bear 3X Shares Call Options (NYSEARCA:FAZ)

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) was the target of some unusual options trading on Monday. Stock traders acquired 4,671 call options on the company. This represents an increase of approximately 71% compared to the typical volume of 2,727 call options.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC increased its stake in shares of Direxion Daily Financial Bear 3X Shares by 1,147.8% during the 4th quarter. Virtu Financial LLC now owns 178,761 shares of the real estate investment trust’s stock worth $1,139,000 after purchasing an additional 164,435 shares during the last quarter. IMC Chicago LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at about $508,000. Prosperity Wealth Management Inc. boosted its position in Direxion Daily Financial Bear 3X Shares by 72.9% during the fourth quarter. Prosperity Wealth Management Inc. now owns 150,455 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 63,461 shares during the period. Jane Street Group LLC increased its stake in shares of Direxion Daily Financial Bear 3X Shares by 29.8% in the fourth quarter. Jane Street Group LLC now owns 38,161 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 8,771 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at approximately $52,000. 9.56% of the stock is currently owned by hedge funds and other institutional investors.

Direxion Daily Financial Bear 3X Shares Price Performance

Shares of FAZ traded up $0.15 during mid-day trading on Monday, reaching $7.89. The company’s stock had a trading volume of 15,693,180 shares, compared to its average volume of 11,733,761. Direxion Daily Financial Bear 3X Shares has a 1 year low of $4.97 and a 1 year high of $11.92. The business has a fifty day moving average of $5.65 and a 200 day moving average of $6.23.

Direxion Daily Financial Bear 3X Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were given a $0.1032 dividend. This is a positive change from Direxion Daily Financial Bear 3X Shares’s previous dividend of $0.10. The ex-dividend date was Tuesday, March 25th.

About Direxion Daily Financial Bear 3X Shares

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.