Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Shares Gap Down – Here’s Why

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) gapped down before the market opened on Wednesday . The stock had previously closed at $84.76, but opened at $81.25. Direxion Daily Regional Banks Bull 3x Shares shares last traded at $85.74, with a volume of 80,795 shares.

Direxion Daily Regional Banks Bull 3x Shares Stock Performance

The firm has a 50 day simple moving average of $108.26 and a two-hundred day simple moving average of $115.80. The stock has a market cap of $581.71 million, a P/E ratio of 11.58 and a beta of 2.95.

Direxion Daily Regional Banks Bull 3x Shares Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.4801 dividend. The ex-dividend date was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Regional Banks Bull 3x Shares

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

Direxion Daily Regional Banks Bull 3x Shares Company Profile

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.