Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Down – What’s Next?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped down before the market opened on Friday . The stock had previously closed at $42.17, but opened at $40.19. Direxion Daily Small Cap Bull 3X Shares shares last traded at $40.23, with a volume of 4,597,937 shares trading hands.

Direxion Daily Small Cap Bull 3X Shares Stock Down 7.8 %

The firm has a market cap of $2.43 billion, a P/E ratio of 13.84 and a beta of 3.74. The stock’s 50-day moving average is $48.65 and its 200-day moving average is $44.10.

Institutional Investors Weigh In On Direxion Daily Small Cap Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of TNA. Farther Finance Advisors LLC lifted its position in shares of Direxion Daily Small Cap Bull 3X Shares by 1,363.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 600 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 559 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 100.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter worth about $84,000. Hartford Financial Management Inc. grew its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 120.0% in the 3rd 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 during the last quarter. Finally, Covestor Ltd increased its position in shares of Direxion Daily Small Cap Bull 3X Shares by 79.4% during the 3rd 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.

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.