Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 12-Month High – Should You Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $181.74 and last traded at $181.74, with a volume of 4460 shares trading hands. The stock had previously closed at $180.15.

Direxion Daily Financial Bull 3X Shares Price Performance

The stock has a 50 day moving average of $146.95 and a two-hundred day moving average of $123.94.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC grew its position in Direxion Daily Financial Bull 3X Shares by 4.1% during the 1st quarter. Jane Street Group LLC now owns 64,730 shares of the real estate investment trust’s stock worth $7,263,000 after purchasing an additional 2,539 shares in the last quarter. Capital CS Group LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the second quarter worth $374,000. Rovin Capital UT ADV grew its holdings in shares of Direxion Daily Financial Bull 3X Shares by 4.3% during the second quarter. Rovin Capital UT ADV now owns 6,026 shares of the real estate investment trust’s stock valued at $609,000 after buying an additional 248 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Direxion Daily Financial Bull 3X Shares by 126.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 2,298 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the 2nd quarter worth about $44,000. 3.51% of the stock is owned by hedge funds and other 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.