Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Trading 10% Higher – Time to Buy?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s stock price were up 10% on Monday . The stock traded as high as $154.74 and last traded at $153.60. Approximately 610,780 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,350,516 shares. The stock had previously closed at $139.66.

Direxion Daily Regional Banks Bull 3x Shares Price Performance

The stock has a market cap of $1.46 billion, a P/E ratio of 105.26 and a beta of 3.98. The stock has a 50-day simple moving average of $106.06 and a 200-day simple moving average of $89.58.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Verus Capital Partners LLC acquired a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares during the 3rd quarter valued at $252,000. Toth Financial Advisory Corp raised its position in Direxion Daily Regional Banks Bull 3x Shares by 24.9% in the third quarter. Toth Financial Advisory Corp now owns 9,047 shares of the company’s stock valued at $900,000 after purchasing an additional 1,801 shares during the last quarter. Virtu Financial LLC bought a new position in Direxion Daily Regional Banks Bull 3x Shares in the second quarter valued at about $2,285,000. Viewpoint Capital Management LLC boosted its stake in shares of Direxion Daily Regional Banks Bull 3x Shares by 7.3% during the second quarter. Viewpoint Capital Management LLC now owns 2,200 shares of the company’s stock valued at $155,000 after purchasing an additional 150 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Direxion Daily Regional Banks Bull 3x Shares by 172.1% during the first quarter. Jane Street Group LLC now owns 57,574 shares of the company’s stock worth $4,582,000 after purchasing an additional 36,417 shares during the last quarter.

About Direxion Daily Regional Banks Bull 3x Shares

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.