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

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 Stock Down 10.5 %

The stock has a fifty day moving average price of $167.57 and a 200-day moving average price of $157.28. The firm 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 disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.4558 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Direxion Daily Financial Bull 3X Shares’s previous dividend of $0.32.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Direxion Daily Financial Bull 3X Shares by 81.6% in the fourth quarter. Bank of Montreal Can now owns 454 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 204 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in Direxion Daily Financial Bull 3X Shares in the fourth quarter valued at $117,000. Bogart Wealth LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter worth $121,000. Sanctuary Advisors LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth $187,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $191,000. 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.