Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Reaches New 52-Week High – Should You Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.82 and last traded at $52.44, with a volume of 7380015 shares changing hands. The stock had previously closed at $45.50.

Direxion Daily Small Cap Bull 3X Shares Stock Up 2.1 %

The company has a market cap of $3.36 billion, a PE ratio of 13.84 and a beta of 3.74. The firm’s fifty day simple moving average is $43.22 and its 200-day simple moving average is $40.50.

Hedge Funds Weigh In On Direxion Daily Small Cap Bull 3X Shares

Several institutional investors and hedge funds have recently modified their holdings of the company. International Private Wealth Advisors LLC lifted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 5.6% during the third quarter. International Private Wealth Advisors LLC now owns 6,722 shares of the exchange traded fund’s stock valued at $298,000 after buying an additional 358 shares during the period. EverSource Wealth Advisors LLC increased its position in Direxion Daily Small Cap Bull 3X Shares by 100.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,000 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Farther Finance Advisors LLC increased its position in Direxion Daily Small Cap Bull 3X Shares by 1,363.4% during the third quarter. Farther Finance Advisors LLC now owns 600 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 559 shares during the last quarter. Covestor Ltd increased its position in Direxion Daily Small Cap Bull 3X Shares by 28.2% during the first quarter. Covestor Ltd now owns 3,012 shares of the exchange traded fund’s stock worth $129,000 after purchasing an additional 663 shares during the last quarter. Finally, LifeGuide Financial Advisors LLC increased its position in Direxion Daily Small Cap Bull 3X Shares by 9.7% during the second quarter. LifeGuide Financial Advisors LLC now owns 8,259 shares of the exchange traded fund’s stock worth $303,000 after purchasing an additional 733 shares during the last quarter.

Direxion Daily Small Cap Bull 3X Shares Company Profile

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.