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

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped up before the market opened on Monday . The stock had previously closed at $31.46, but opened at $32.91. Direxion Daily Small Cap Bull 3X Shares shares last traded at $33.14, with a volume of 2,146,408 shares traded.

Direxion Daily Small Cap Bull 3X Shares Price Performance

The stock’s 50-day moving average is $39.60 and its 200-day moving average is $43.71. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 15.03 and a beta of 3.52.

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

A number of hedge funds have recently made changes to their positions in the stock. TAP Consulting LLC boosted its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 5.8% in the 4th quarter. TAP Consulting LLC now owns 5,591 shares of the exchange traded fund’s stock valued at $234,000 after purchasing an additional 305 shares during the last quarter. ORG Wealth Partners LLC boosted its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 26.1% in the 4th quarter. ORG Wealth Partners LLC now owns 2,400 shares of the exchange traded fund’s stock valued at $101,000 after purchasing an additional 496 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 402.3% in the 4th quarter. Bank of America Corp DE now owns 874 shares of the exchange traded fund’s stock valued at $37,000 after purchasing an additional 700 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the 4th quarter valued at $38,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 154.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,525 shares of the exchange traded fund’s stock valued at $64,000 after acquiring an additional 925 shares during the period.

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.