Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Gap Down – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) gapped down prior to trading on Monday . The stock had previously closed at $176.48, but opened at $170.00. Direxion Daily Financial Bull 3X Shares shares last traded at $171.0420, with a volume of 381,597 shares traded.

Direxion Daily Financial Bull 3X Shares Stock Down 2.4%

The stock’s 50-day moving average price is $166.91 and its 200 day moving average price is $169.16. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 15.11 and a beta of 3.02.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were issued a $12.0949 dividend. This is a positive change from Direxion Daily Financial Bull 3X Shares’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $48.38 annualized dividend and a yield of 28.1%.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Addison Advisors LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the second quarter valued at $29,000. Morse Asset Management Inc increased its holdings in Direxion Daily Financial Bull 3X Shares by 31.9% in the 3rd quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 79 shares during the period. Bogart Wealth LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter valued at $84,000. Elevation Point Wealth Partners LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth about $155,000. Finally, MAI Capital Management bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth about $194,000. 3.51% of the stock is currently 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. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.