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 TR USD
CategorySector
FocusFinancials
Development LevelDeveloped Markets
RegionNorth America
Fund Statistics
Assets Under Management$122.83 million
Average Daily Volume$2.69 million
Discount/Premium4.86%
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. Stockholders of record on Wednesday, March 20th will be paid a dividend of $0.0275 per share on Tuesday, March 26th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, March 19th. View Direxion Daily Financial Bear 3X Shares' Dividend History.
Has Direxion Daily Financial Bear 3X Shares been receiving favorable news coverage?
Headlines about FAZ stock have trended neutral this week, InfoTrie Sentiment Analysis reports. InfoTrie scores the sentiment of press coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Direxion Daily Financial Bear 3X Shares earned a daily sentiment score of 0.2 on InfoTrie's scale. They also assigned headlines about the real estate investment trust a news buzz of 3.0 out of 10, indicating that recent press coverage is unlikely to have an impact on the stock's share price in the next several days.
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 retail and institutional investors. Top institutional investors include Simplex Trading LLC (1.14%), Virtu Financial LLC (0.56%), SG Americas Securities LLC (0.14%), Miracle Mile Advisors LLC (0.11%) and Financial Counselors Inc. (0.09%).
Which institutional 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 SG Americas Securities LLC and Virtu Financial LLC.
Which institutional investors are buying Direxion Daily Financial Bear 3X Shares stock?
FAZ stock was bought by a variety of institutional investors in the last quarter, including Simplex Trading LLC, Miracle Mile Advisors LLC and Financial Counselors Inc..
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 $9.92.
How big of a company is Direxion Daily Financial Bear 3X Shares?
Direxion Daily Financial Bear 3X Shares has a market capitalization of $193.76 million.
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.
