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. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending. The Fund invests 80% of its net assets in futures contracts; indices and futures contracts; equity caps, collars and floors; swap agreements, forward contracts; short positions; reverse repurchase agreements; exchanges traded funds and other financial instruments. The Fund's adviser is Rafferty Asset Management, LLC.
Basic Details
Issuer Direxion
Fund NameDirexion Daily Financial Bear 3X Shares
Tax ClassificationRegulated Investment Company
SymbolNYSEARCA:FAZ
Inception Date11/6/2008
Fund ManagerPaul Brigandi, Tony Ng
PhoneN/A
Fund Focus
Asset ClassEquity
BenchmarkRussell 1000 Financial Services Index
CategorySector
FocusFinancials
Development LevelDeveloped Markets
RegionNorth America
Fund Statistics
Assets Under Management$165.76 million
Average Daily Volume$792,413.20
Discount/Premium0.02%
ETF Expenses
Management Fee0.75%
Other Expenses0.40%
Total Expenses1.15%
Fee Waiver-0.05%
Net Expenses1.10%
Administrator, Advisor and Custodian
AdministratorU.S. Bancorp Fund Services, LLC
AdvisorRafferty Asset Management, LLC
CustodianThe Bank of New York Mellon Corporation
DistributorForeside Fund Services, LLC
Transfer AgentThe Bank of New York Mellon Corporation
Trustee
Lead Market MakerVirtu Financial
Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Frequently Asked Questions
What is Direxion Daily Financial Bear 3X Shares' stock symbol?
Direxion Daily Financial Bear 3X Shares trades on the New York Stock Exchange (NYSE)ARCA under the ticker symbol "FAZ."
How often does Direxion Daily Financial Bear 3X Shares pay dividends? What is the dividend yield for Direxion Daily Financial Bear 3X Shares?
Direxion Daily Financial Bear 3X Shares declared a quarterly dividend on Tuesday, March 19th. Shareholders of record on Wednesday, March 20th will be given a dividend of $0.1375 per share on Tuesday, March 26th. This represents a $0.55 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, March 19th. This is a positive change from Direxion Daily Financial Bear 3X Shares's previous quarterly dividend of $0.04. View Direxion Daily Financial Bear 3X Shares' Dividend History.
When did Direxion Daily Financial Bear 3X Shares' stock split? How did Direxion Daily Financial Bear 3X Shares' stock split work?
Shares of Direxion Daily Financial Bear 3X Shares reverse split before market open on Friday, June 28th 2019. The 1-5 reverse split was announced on Friday, May 24th 2019. The number of shares owned by shareholders was adjusted after the closing bell on Thursday, June 27th 2019. An investor that had 100 shares of Direxion Daily Financial Bear 3X Shares stock prior to the reverse split would have 20 shares after the split.
Has Direxion Daily Financial Bear 3X Shares been receiving favorable news coverage?
News stories about FAZ stock have been trending positive recently, InfoTrie reports. The research group identifies positive and negative news coverage by analyzing more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Direxion Daily Financial Bear 3X Shares earned a news sentiment score of 2.5 on InfoTrie's scale. They also assigned news articles about the real estate investment trust a news buzz of 6.0 out of 10, meaning that recent news coverage is somewhat likely to have an impact on the company's share price in the near term. View News Stories for Direxion Daily Financial Bear 3X Shares.
What other stocks do shareholders of Direxion Daily Financial Bear 3X Shares own?
Who are Direxion Daily Financial Bear 3X Shares' major shareholders?
Direxion Daily Financial Bear 3X Shares' stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Citadel Advisors LLC (2.17%), Terril Brothers Inc. (1.05%), Morgan Stanley (1.07%), Tower Research Capital LLC TRC (0.45%), Bank of Montreal Can (0.24%) and XR Securities LLC (0.18%).
Which major investors are selling Direxion Daily Financial Bear 3X Shares stock?
FAZ stock was sold by a variety of institutional investors in the last quarter, including Morgan Stanley.
Which major investors are buying Direxion Daily Financial Bear 3X Shares stock?
FAZ stock was acquired by a variety of institutional investors in the last quarter, including Citadel Advisors LLC, Terril Brothers Inc., Tower Research Capital LLC TRC , Bank of Montreal Can, XR Securities LLC, US Bancorp DE and Capital Investment Advisory Services LLC.
How do I buy shares of Direxion Daily Financial Bear 3X Shares?
Shares of FAZ can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Direxion Daily Financial Bear 3X Shares' stock price today?
One share of FAZ stock can currently be purchased for approximately $39.07.
How big of a company is Direxion Daily Financial Bear 3X Shares?
What is Direxion Daily Financial Bear 3X Shares' official website?
MarketBeat Community Rating for Direxion Daily Financial Bear 3X Shares (NYSEARCA FAZ)
MarketBeat's community ratings are surveys of what our community members think about Direxion Daily Financial Bear 3X Shares and other stocks. Vote "Outperform" if you believe FAZ will outperform the S&P 500 over the long term. Vote "Underperform" if you believe FAZ will underperform the S&P 500 over the long term. You may vote once every thirty days.
