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

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) gapped down prior to trading on Thursday . The stock had previously closed at $161.59, but opened at $142.90. Direxion Daily Financial Bull 3X Shares shares last traded at $140.41, with a volume of 276,326 shares trading hands.

Direxion Daily Financial Bull 3X Shares Price Performance

The firm’s fifty day moving average price is $167.57 and its 200-day moving average price is $157.28. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 14.81 and a beta of 2.92.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.4558 per share. This is a positive change from Direxion Daily Financial Bull 3X Shares’s previous dividend of $0.32. The ex-dividend date of this dividend was Tuesday, March 25th.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAS. Captrust Financial Advisors grew its position in Direxion Daily Financial Bull 3X Shares by 20.4% in the 3rd quarter. Captrust Financial Advisors now owns 4,920 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 835 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares in the third quarter valued at approximately $187,000. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the third quarter valued at approximately $191,000. Strategic Wealth Investment Group LLC bought a new stake in Direxion Daily Financial Bull 3X Shares during the fourth quarter worth approximately $343,000. Finally, Strategic Financial Concepts LLC bought a new stake in Direxion Daily Financial Bull 3X Shares during the fourth quarter worth approximately $8,206,000. 3.51% of the stock is owned by 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.