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See exactly how FAZ's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse of the Financials Select Sector Index. The Fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the Index.
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.
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.
The financial sector staged a sharp recovery, and the market has decided the worst is over.
Q1 earnings reports have come in from four prominent names in the financial sector—Goldman Sachs, JP Morgan Chase, Wells Fargo, and Citigroup.
Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $43.93 and traded as high as $53.40. Direxion Daily Financial Bear 3X Shares shares last traded at $53.31, with a volume of