Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Gap Down – Should You Sell?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares gapped down before the market opened 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.

Direxion Daily Financial Bull 3X Shares Trading Down 21.7 %

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 14.81 and a beta of 2.92. The company’s 50-day moving average is $165.56 and its 200-day moving average is $157.00.

Direxion Daily Financial Bull 3X Shares Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $187,000. JPMorgan Chase & Co. bought a new position in Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth approximately $191,000. Ellis Investment Partners LLC lifted its position in shares of Direxion Daily Financial Bull 3X Shares by 29.4% in the 4th quarter. Ellis Investment Partners LLC now owns 2,229 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 507 shares during the period. Strategic Wealth Investment Group LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares in the 4th quarter valued at $343,000. Finally, Captrust Financial Advisors boosted its stake in shares of 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 purchasing an additional 835 shares during the last quarter. 3.51% of the stock is currently owned by institutional investors.

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.