Summary
FAS Chart
Porsche CEO aims to finalise new cost-cutting package by July, FAS reports
Porsche CEO Michael Leiters expects a swift conclusion to negotiations on a second cost-cutting package at the German sports car maker, according to an interview with Frankfurter Allgemeine Sonntagszeitung published on Saturday.
Financial Services Stocks Are Vexing Investors
In theory, the financial services sector, the second-largest sector exposure in the S&P 500, should be a decent performer this year. The reality is something else, as the largest pure beta ETF addressing the sector is down 4.6% year-to-date as of June 8.
It Might Be Time to Bank on These Bank ETFs
Another earnings season means traders will be treated to a slew of updates from the financial services sector. In fact, some of have already arrived, suggesting that bank ETFs may be worth a look.
Direxion Daily Financial Bull 3x Shares Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| DC Diane Collins Rovin Capital /UT/ /ADV | 6,285 | $539,838.87 | $1.09M | $547,874.65 | 101.49% |
 Private Capital Private Capital Management | 15,300 | $1.61M | $2.63M | $1.02M | 63.27% |
 Daniel Guy Ethos Financial Group LLC | 5,116 | $808,993.25 | $886,628.38 | $77,635.13 | 9.6% |
| MV Moises Valladares Insigneo Advisory Services LLC | 2,658 | $433,910.27 | $460,139.67 | $26,229.4 | 6.04% |
 Alexandra Stickelman Root Financial Partners, LLC | 92 | $16,288.4 | $15,841.48 | -$446.92 | -2.74% |
Direxion Daily Financial Bull 3x Shares (FAS) FAQ
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Direxion Daily Financial Bull 3x Shares Profile
| ARCA Exchange | US Country |
Overview
The fund is designed for investors looking for aggressive investment strategies, with a focus on the financial sector. It aims to offer thrice the daily leveraged exposure to its underlying index, which encompasses a broad spectrum of industries within the financial sector, including banks, mortgage finance, diversified financial services, consumer finance, capital markets, insurance, and mortgage REITs. This aggressive strategy is implemented through the use of financial instruments such as swap agreements, securities of the index, and ETFs tailored to track the index. Given its concentrated strategy, the fund is non-diversified, directing a significant portion of its assets towards achieving its investment objective.
Products and Services
- Swap Agreements:
These are derivative contracts through which two parties exchange the cash flows or liabilities from two different financial instruments. In the context of this fund, swap agreements are used to gain leveraged exposure to the underlying index without directly owning the securities.
- Securities of the Index:
Direct investment in stocks or other securities that are constituents of the targeted index. This approach allows the fund to closely track the performance of the financial sectors it aims to emulate.
- ETFs that Track the Index:
Exchange-Traded Funds (ETFs) which replicate the performance of the index. This offers the fund an additional layer of diversification and exposure to the financial sector, contributing to its 3X daily leveraged objective.
