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

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $154.96 and traded as high as $158.00. Direxion Daily Financial Bull 3X Shares shares last traded at $155.44, with a volume of 652,538 shares traded.

Direxion Daily Financial Bull 3X Shares Stock Performance

The company has a 50-day simple moving average of $167.42 and a 200 day simple moving average of $154.96. The company has a market capitalization of $2.42 billion, a P/E ratio of 14.21 and a beta of 3.18.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $187,000. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $191,000. PNC Financial Services Group Inc. increased its position in shares of Direxion Daily Financial Bull 3X Shares by 11.4% during the third quarter. PNC Financial Services Group Inc. now owns 8,132 shares of the real estate investment trust’s stock valued at $1,055,000 after purchasing an additional 832 shares during the period. Ellis Investment Partners LLC increased its position in shares of Direxion Daily Financial Bull 3X Shares by 29.4% during the fourth quarter. Ellis Investment Partners LLC now owns 2,229 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 507 shares during the period. Finally, Strategic Wealth Investment Group LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the fourth quarter valued at approximately $343,000. 3.51% of the stock is currently owned by institutional investors.

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.