Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Sets New 52-Week High – Should You Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $163.07 and last traded at $162.13, with a volume of 435799 shares trading hands. The stock had previously closed at $139.99.

Direxion Daily Financial Bull 3X Shares Stock Performance

The business has a 50-day moving average price of $134.94 and a 200-day moving average price of $117.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAS. Strategic Financial Concepts LLC purchased a new position in Direxion Daily Financial Bull 3X Shares in the 2nd quarter valued at $44,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter worth $1,149,000. Capital CS Group LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter worth $374,000. Edge Financial Advisors LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth $443,000. Finally, Jane Street Group LLC increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 4.1% in 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 acquiring an additional 2,539 shares during the last quarter. Hedge funds and other institutional investors 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.