Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Shares Down 8.3% – Time to Sell?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s stock price dropped 8.3% on Friday . The company traded as low as $83.05 and last traded at $82.73. Approximately 247,802 shares were traded during trading, a decline of 77% from the average daily volume of 1,084,096 shares. The stock had previously closed at $90.24.

Direxion Daily Regional Banks Bull 3x Shares Stock Performance

The company has a market capitalization of $573.76 million, a PE ratio of 11.58 and a beta of 2.95. The company’s 50-day simple moving average is $109.85 and its 200-day simple moving average is $115.68.

Direxion Daily Regional Banks Bull 3x Shares Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a dividend of $0.4801 per share. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Trading of Direxion Daily Regional Banks Bull 3x Shares

A number of hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter worth $28,000. SBI Securities Co. Ltd. purchased a new position in Direxion Daily Regional Banks Bull 3x Shares during the fourth quarter worth about $3,731,000. Orion Portfolio Solutions LLC acquired a new stake in Direxion Daily Regional Banks Bull 3x Shares in the third quarter valued at about $349,000. Virtu Financial LLC purchased a new stake in Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter valued at approximately $935,000. Finally, Toth Financial Advisory Corp increased its position in Direxion Daily Regional Banks Bull 3x Shares by 40.6% during the 4th quarter. Toth Financial Advisory Corp now owns 12,723 shares of the company’s stock worth $1,398,000 after purchasing an additional 3,676 shares during the period.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.