Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Sets New 12-Month High – Here’s Why

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) hit a new 52-week high on Thursday . The company traded as high as $77.10 and last traded at $76.25, with a volume of 693438 shares traded. The stock had previously closed at $75.51.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The business has a fifty day simple moving average of $70.71 and a 200-day simple moving average of $60.57. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 17.29 and a beta of 3.31.

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

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 7,906,690.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 869,747 shares of the exchange traded fund’s stock valued at $39,608,000 after buying an additional 869,736 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the fourth quarter worth approximately $21,919,000. Royal Bank of Canada boosted its holdings in Direxion Daily Small Cap Bull 3X Shares by 1,020,085.0% in the first quarter. Royal Bank of Canada now owns 204,037 shares of the exchange traded fund’s stock valued at $9,004,000 after acquiring an additional 204,017 shares during the last quarter. Jump Financial LLC bought a new stake in Direxion Daily Small Cap Bull 3X Shares in the third quarter valued at approximately $4,832,000. Finally, UBS Group AG increased its position in Direxion Daily Small Cap Bull 3X Shares by 45.4% during the 3rd quarter. UBS Group AG now owns 298,311 shares of the exchange traded fund’s stock valued at $13,496,000 after purchasing an additional 93,197 shares during the period.

About Direxion Daily Small Cap Bull 3X Shares

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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.