Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Sees Large Volume Increase

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) saw unusually-strong trading volume on Monday . Approximately 238,827 shares traded hands during mid-day trading, a decline of 63% from the previous session’s volume of 649,859 shares.The stock last traded at $103.62 and had previously closed at $100.99.

Direxion Daily Financial Bull 3X Shares Price Performance

The company’s 50-day simple moving average is $103.02 and its 200-day simple moving average is $97.16.

Hedge Funds Weigh In On Direxion Daily Financial Bull 3X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAS. Covestor Ltd increased its position in shares of Direxion Daily Financial Bull 3X Shares by 35.2% during the first quarter. Covestor Ltd now owns 1,017 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 265 shares during the period. Rovin Capital UT ADV increased its position in shares of Direxion Daily Financial Bull 3X Shares by 14.6% during the first quarter. Rovin Capital UT ADV now owns 5,778 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 734 shares during the period. Headlands Technologies LLC acquired a new stake in Direxion Daily Financial Bull 3X Shares in the first quarter worth $96,000. Private Capital Management LLC grew its holdings in Direxion Daily Financial Bull 3X Shares by 20.5% in the fourth quarter. Private Capital Management LLC now owns 10,000 shares of the real estate investment trust’s stock worth $826,000 after purchasing an additional 1,700 shares during the period. Finally, Grandview Asset Management LLC acquired a new stake in Direxion Daily Financial Bull 3X Shares in the first quarter worth $269,000. 3.51% of the stock is currently owned by institutional investors and hedge funds.

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.