Direxion Daily Financial Bear 3X Shares Sees Unusually Large Options Volume (NYSEARCA:FAZ)

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) saw some unusual options trading on Monday. Traders purchased 5,099 put options on the stock. This represents an increase of approximately 245% compared to the typical daily volume of 1,479 put options.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares during the second quarter worth about $813,000. Scientech Research LLC purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares during the second quarter worth about $353,000. Virtu Financial LLC grew its stake in shares of Direxion Daily Financial Bear 3X Shares by 13.5% during the first quarter. Virtu Financial LLC now owns 112,142 shares of the real estate investment trust’s stock worth $1,100,000 after acquiring an additional 13,301 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Direxion Daily Financial Bear 3X Shares during the second quarter worth about $114,000. Hedge funds and other institutional investors own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Price Performance

FAZ traded down $0.03 on Monday, hitting $5.82. The company had a trading volume of 11,373,288 shares, compared to its average volume of 4,747,653. The stock has a fifty day moving average price of $7.40 and a 200-day moving average price of $8.99. Direxion Daily Financial Bear 3X Shares has a 12-month low of $5.73 and a 12-month high of $17.24.

Direxion Daily Financial Bear 3X Shares Company Profile

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.