Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Stock Price Down 11.4% – Time to Sell?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) were down 11.4% during mid-day trading on Tuesday . The stock traded as low as $162.49 and last traded at $159.36. Approximately 370,219 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 705,370 shares. The stock had previously closed at $179.78.

Direxion Daily Financial Bull 3X Shares Stock Performance

The stock has a market cap of $2.48 billion, a PE ratio of 16.35 and a beta of 3.20. The stock has a fifty day moving average price of $168.31 and a 200 day moving average price of $153.02.

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

A number of institutional investors and hedge funds have recently modified their holdings of FAS. Addison Advisors LLC purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $39,000. Hollencrest Capital Management purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the third quarter valued at approximately $42,000. Silicon Valley Capital Partners purchased a new stake in Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth $64,000. Bank of Montreal Can increased its holdings in Direxion Daily Financial Bull 3X Shares by 81.6% in the 4th quarter. Bank of Montreal Can now owns 454 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 204 shares in the last quarter. Finally, Wells Fargo & Company MN acquired a new position in Direxion Daily Financial Bull 3X Shares during the fourth quarter worth $117,000. Institutional investors and hedge funds own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X Shares Company Profile

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.