Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.04, but opened at $8.28. Direxion Daily Financial Bear 3X Shares shares last traded at $8.59, with a volume of 115065 shares traded.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in Direxion Daily Financial Bear 3X Shares by 25.4% in the third quarter. Morgan Stanley now owns 262,033 shares of the real estate investment trust’s stock valued at $2,544,000 after buying an additional 53,057 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $210,000. Financial Counselors Inc. lifted its stake in Direxion Daily Financial Bear 3X Shares by 12.0% in the fourth quarter. Financial Counselors Inc. now owns 14,000 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 1,500 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Direxion Daily Financial Bear 3X Shares in the fourth quarter valued at approximately $602,000.

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About Direxion Daily Financial Bear 3X Shares (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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