Direxion Daily Financial Bear 3X Shares (FAZ) Trading 6.8% Higher

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s share price traded up 6.8% during mid-day trading on Monday . The company traded as high as $8.85 and last traded at $8.78. 4,309,178 shares were traded during trading, an increase of 72% from the average session volume of 2,507,172 shares. The stock had previously closed at $8.22.

A number of institutional investors and hedge funds have recently bought and sold shares of FAZ. Morgan Stanley raised its position in Direxion Daily Financial Bear 3X Shares by 25.4% during the 3rd quarter. Morgan Stanley now owns 262,033 shares of the real estate investment trust’s stock valued at $2,544,000 after purchasing an additional 53,057 shares in the last quarter. Simplex Trading LLC bought a new stake in Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at $2,051,000. Miracle Mile Advisors LLC bought a new stake in Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at $210,000. Financial Counselors Inc. raised its position in Direxion Daily Financial Bear 3X Shares by 12.0% during the 4th quarter. Financial Counselors Inc. now owns 14,000 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Direxion Daily Financial Bear 3X Shares during the 4th quarter valued at $602,000.

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Direxion Daily Financial Bear 3X Shares Company Profile (NYSEARCA:FAZ)

Direxion Daily Financial Bear 3x Shares (the Fund) seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) 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.

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