Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Sees Significant Drop in Short Interest

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 192,622 shares, a decrease of 29.4% from the March 15th total of 272,834 shares. Based on an average daily trading volume, of 782,174 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Direxion Daily Financial Bear 3X Shares

A number of institutional investors and hedge funds have recently modified their holdings of FAZ. Squarepoint Ops LLC lifted its holdings in shares of Direxion Daily Financial Bear 3X Shares by 48.7% in the second quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock worth $959,000 after buying an additional 71,516 shares in the last quarter. UBS Group AG lifted its holdings in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 26,944 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter worth about $1,554,000. Quadrature Capital Ltd purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter worth about $1,466,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares in the fourth quarter worth about $202,000. 9.56% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily Financial Bear 3X Shares Trading Down 2.1%

Shares of Direxion Daily Financial Bear 3X Shares stock traded down $0.92 on Wednesday, reaching $42.94. The stock had a trading volume of 880,851 shares, compared to its average volume of 1,147,047. Direxion Daily Financial Bear 3X Shares has a 1 year low of $34.87 and a 1 year high of $69.40. The business’s 50 day moving average is $47.71 and its two-hundred day moving average is $43.51.

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. 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.