Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 1-Year High – Still a Buy?

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $163.07 and last traded at $162.13, with a volume of 435799 shares. The stock had previously closed at $139.99.

Direxion Daily Financial Bull 3X Shares Trading Up 18.3 %

The business has a 50-day moving average price of $133.63 and a 200-day moving average price of $116.53.

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

A number of large investors have recently made changes to their positions in the business. Addison Advisors LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the third quarter worth $39,000. Hollencrest Capital Management acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the third quarter worth $42,000. James J. Burns & Company LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $234,000. Silicon Valley Capital Partners acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $64,000. Finally, Edge Financial Advisors LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $443,000. 3.51% of the stock is owned by institutional investors and hedge funds.

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.