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

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped up prior to trading on Wednesday . The stock had previously closed at $22.79, but opened at $24.77. Direxion Daily Small Cap Bull 3X Shares shares last traded at $25.49, with a volume of 5,740,943 shares changing hands.

Direxion Daily Small Cap Bull 3X Shares Stock Up 6.1 %

The stock’s 50-day simple moving average is $29.66 and its 200 day simple moving average is $40.66. The firm has a market cap of $1.65 billion, a P/E ratio of 12.36 and a beta of 3.31.

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

A number of large investors have recently bought and sold shares of TNA. Tidal Investments LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares during the third quarter worth $11,528,000. Jump Financial LLC raised its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 213.7% in the 4th quarter. Jump Financial LLC now owns 254,454 shares of the exchange traded fund’s stock worth $10,657,000 after acquiring an additional 173,348 shares during the last quarter. Peregrine Investment Management Inc. bought a new position in Direxion Daily Small Cap Bull 3X Shares in the 4th quarter valued at about $10,051,000. Oriental Harbor Investment Fund acquired a new position in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at about $7,720,000. Finally, TB Alternative Assets Ltd. increased its holdings in Direxion Daily Small Cap Bull 3X Shares by 80.6% during the 1st quarter. TB Alternative Assets Ltd. now owns 129,106 shares of the exchange traded fund’s stock worth $3,778,000 after purchasing an additional 57,601 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.