Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Trading 19.2% Higher – Still a Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) rose 19.2% on Wednesday . The stock traded as high as $22.67 and last traded at $22.79. Approximately 31,498,749 shares were traded during trading, an increase of 99% from the average daily volume of 15,816,230 shares. The stock had previously closed at $19.12.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The business has a 50-day simple moving average of $33.50 and a 200-day simple moving average of $41.90. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 14.70 and a beta of 3.52.

Direxion Daily Small Cap Bull 3X Shares Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a dividend of $0.1033 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Direxion Daily Small Cap Bull 3X Shares’s previous dividend of $0.03.

Institutional Trading of Direxion Daily Small Cap Bull 3X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily Small Cap Bull 3X Shares during the third quarter worth about $1,564,000. BNP Paribas Financial Markets purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at approximately $372,000. Farther Finance Advisors LLC lifted its position in Direxion Daily Small Cap Bull 3X Shares by 154.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,525 shares of the exchange traded fund’s stock worth $64,000 after acquiring an additional 925 shares during the period. Tidal Investments LLC purchased a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter valued at approximately $11,528,000. Finally, Sims Investment Management LLC acquired a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the fourth quarter valued at approximately $1,256,000.

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.