Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Stock Cross Below 200-Day Moving Average – Here’s What Happened

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $41.84 and traded as low as $40.83. Direxion Daily Financial Bear 3X Shares shares last traded at $41.31, with a volume of 1,326,594 shares trading hands.

Direxion Daily Financial Bear 3X Shares Trading Up 0.5%

The stock’s 50 day moving average is $39.69 and its 200 day moving average is $41.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FAZ. Squarepoint Ops LLC raised its position in 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 acquiring an additional 71,516 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter worth approximately $175,000. UBS Group AG raised its holdings in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after purchasing an additional 26,944 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 15,221 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Direxion Daily Financial Bear 3X Shares by 119.5% during the second quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 10,002 shares in the last quarter. Institutional investors own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Company Profile

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.