Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 52-Week High – Still a Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares hit a new 52-week high on Thursday . The company traded as high as $148.83 and last traded at $148.83, with a volume of 5027 shares. The stock had previously closed at $147.85.

Direxion Daily Financial Bull 3X Shares Stock Up 1.9 %

The stock’s 50 day moving average price is $126.16 and its 200-day moving average price is $112.39.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in shares of Direxion Daily Financial Bull 3X Shares by 4.1% in the first quarter. Jane Street Group LLC now owns 64,730 shares of the real estate investment trust’s stock worth $7,263,000 after purchasing an additional 2,539 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the second quarter worth $44,000. Toth Financial Advisory Corp raised its holdings in Direxion Daily Financial Bull 3X Shares by 134.9% in the first quarter. Toth Financial Advisory Corp now owns 12,325 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 7,078 shares in the last quarter. Virtu Financial LLC bought a new position in Direxion Daily Financial Bull 3X Shares in the second quarter worth $1,149,000. Finally, Private Capital Management LLC boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 20.5% during the 4th quarter. Private Capital Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $826,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 3.51% of the company’s stock.

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.