Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 12-Month High – Still a Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $181.74 and last traded at $181.74, with a volume of 4460 shares changing hands. The stock had previously closed at $180.15.

Direxion Daily Financial Bull 3X Shares Stock Performance

The stock’s 50-day moving average is $145.90 and its 200-day moving average is $123.54.

Hedge Funds Weigh In On Direxion Daily Financial Bull 3X Shares

Large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the third quarter valued at approximately $187,000. Captrust Financial Advisors boosted its holdings 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. Meridian Wealth Management LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter valued at $226,000. PNC Financial Services Group Inc. increased its holdings in shares of Direxion Daily Financial Bull 3X Shares by 11.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 832 shares during the last quarter. Finally, Addison Advisors LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter worth $39,000. 3.51% of the stock is currently owned by hedge funds and other institutional investors.

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.