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 prior to trading 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.

Direxion Daily Small Cap Bull 3X Shares Trading Up 0.5 %

The company’s 50 day moving average price is $48.04 and its two-hundred day moving average price is $44.28. The stock has a market cap of $2.72 billion, a P/E ratio of 13.84 and a beta of 3.74.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its stake in Direxion Daily Small Cap Bull 3X Shares by 5,277.3% during the 3rd quarter. Hollencrest Capital Management now owns 482,773 shares of the exchange traded fund’s stock worth $21,406,000 after acquiring an additional 473,795 shares during the period. Squarepoint Ops LLC bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the 2nd quarter worth approximately $10,661,000. Tidal Investments LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at approximately $11,528,000. Thames Capital Management LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the 2nd quarter valued at approximately $8,253,000. Finally, Oriental Harbor Investment Fund purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at approximately $7,720,000.

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.