Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Up – Should You Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $40.91, but opened at $44.06. Direxion Daily Small Cap Bull 3X Shares shares last traded at $43.95, with a volume of 6,394,058 shares traded.

Direxion Daily Small Cap Bull 3X Shares Price Performance

The firm has a market capitalization of $2.72 billion, a P/E ratio of 13.84 and a beta of 3.74. The firm has a 50-day moving average price of $48.04 and a two-hundred day moving average price of $44.28.

Institutional Trading of Direxion Daily Small Cap Bull 3X Shares

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 1,363.4% in the third quarter. Farther Finance Advisors LLC now owns 600 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 559 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 100.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Direxion Daily Small Cap Bull 3X Shares in the third quarter worth about $84,000. Hartford Financial Management Inc. raised its holdings in Direxion Daily Small Cap Bull 3X Shares by 120.0% in the third quarter. Hartford Financial Management Inc. now owns 2,750 shares of the exchange traded fund’s stock worth $122,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Direxion Daily Small Cap Bull 3X Shares by 79.4% in the third quarter. Covestor Ltd now owns 4,028 shares of the exchange traded fund’s stock worth $179,000 after purchasing an additional 1,783 shares in the last quarter.

About Direxion Daily Small Cap Bull 3X Shares

Direxion Daily Small Cap Bull 3X Shares (the Fund), formerly Direxion Small Cap Bull 3X Shares, seeks daily investment results of 300% of the price performance of the Russell 2000 Index (the Small Cap Index). The Small Cap Index measures the performance of the small-cap segment of the United States equity universe, and consists of the smallest 2,000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of the Russell 3000 Index.