Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Stock Pass Above 50 Day Moving Average – What’s Next?

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $27.33 and traded as high as $38.15. Direxion Daily Real Estate Bear 3X Shares shares last traded at $37.08, with a volume of 475,833 shares traded.

Direxion Daily Real Estate Bear 3X Shares Stock Up 7.4 %

The company’s fifty day simple moving average is $27.33 and its 200 day simple moving average is $26.65.

Direxion Daily Real Estate Bear 3X Shares Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.2771 dividend. The ex-dividend date was Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Real Estate Bear 3X Shares

Large investors have recently modified their holdings of the stock. Walleye Capital LLC purchased a new stake in shares of Direxion Daily Real Estate Bear 3X Shares during the fourth quarter valued at $203,000. Virtu Financial LLC boosted its holdings in shares of Direxion Daily Real Estate Bear 3X Shares by 184.5% during the 4th quarter. Virtu Financial LLC now owns 50,585 shares of the company’s stock valued at $1,491,000 after acquiring an additional 32,804 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily Real Estate Bear 3X Shares in the fourth quarter worth approximately $28,000.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.