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

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $150.69 and traded as high as $176.78. Direxion Daily Financial Bull 3X Shares shares last traded at $172.63, with a volume of 521,938 shares changing hands.

Direxion Daily Financial Bull 3X Shares Stock Performance

The company has a market cap of $2.68 billion, a PE ratio of 16.35 and a beta of 3.20. The company has a 50 day simple moving average of $165.69 and a two-hundred day simple moving average of $150.69.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FAS. Addison Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $39,000. Hollencrest Capital Management bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $42,000. Silicon Valley Capital Partners bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $64,000. Bank of Montreal Can increased its position in shares of Direxion Daily Financial Bull 3X Shares by 81.6% during the fourth quarter. Bank of Montreal Can now owns 454 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 204 shares during the period. Finally, Wells Fargo & Company MN bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the fourth quarter valued at approximately $117,000. 3.51% of the stock is owned by institutional investors.

Direxion Daily Financial Bull 3X Shares Company Profile

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.