Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Stock Price Up 6.7% – Here’s Why

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN)’s share price shot up 6.7% on Monday . The company traded as high as $34.07 and last traded at $33.92. 223,603 shares were traded during trading, an increase of 3% from the average session volume of 216,591 shares. The stock had previously closed at $31.80.

Direxion Daily Aerospace & Defense Bull 3X Shares Trading Down 4.7 %

The company has a market capitalization of $184.20 million, a PE ratio of 30.17 and a beta of 2.94. The firm has a 50 day simple moving average of $31.74 and a two-hundred day simple moving average of $33.00.

Direxion Daily Aerospace & Defense Bull 3X Shares Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a $0.0236 dividend. The ex-dividend date of this dividend is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Aerospace & Defense Bull 3X Shares

Several institutional investors have recently bought and sold shares of DFEN. JPMorgan Chase & Co. boosted its holdings in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 3,988 shares of the company’s stock valued at $142,000 after acquiring an additional 1,027 shares in the last quarter. IMC Chicago LLC acquired a new stake in Direxion Daily Aerospace & Defense Bull 3X Shares in the fourth quarter valued at about $508,000. Traynor Capital Management Inc. boosted its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 10.2% in the 4th quarter. Traynor Capital Management Inc. now owns 384,884 shares of the company’s stock valued at $10,588,000 after purchasing an additional 35,629 shares in the last quarter. Virtu Financial LLC acquired a new position in Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter worth approximately $299,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter worth approximately $100,000.

About Direxion Daily Aerospace & Defense Bull 3X Shares

The Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) is an exchange-traded fund that is based on the DJ US Select \u002F Aerospace & Defense index. The fund provides 3x leveraged exposure to a market-cap- weighted index of US aerospace and defense companies. DFEN was launched on May 3, 2017 and is managed by Direxion.