Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $49.94 and traded as low as $48.77. Direxion Daily Small Cap Bear 3X ETF shares last traded at $49.28, with a volume of 6,416,463 shares traded.

Direxion Daily Small Cap Bear 3X ETF Stock Down 2.7%

The stock’s fifty day simple moving average is $45.71 and its 200-day simple moving average is $49.94.

Hedge Funds Weigh In On Direxion Daily Small Cap Bear 3X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Direxion Daily Small Cap Bear 3X ETF in the second quarter valued at $200,000. Bank of New York Mellon Corp bought a new stake in shares of Direxion Daily Small Cap Bear 3X ETF during the 1st quarter worth about $702,000. Headlands Technologies LLC lifted its stake in Direxion Daily Small Cap Bear 3X ETF by 270.5% in the 2nd quarter. Headlands Technologies LLC now owns 226,716 shares of the exchange traded fund’s stock valued at $859,000 after purchasing an additional 165,530 shares during the last quarter. Squarepoint Ops LLC grew its stake in Direxion Daily Small Cap Bear 3X ETF by 54.1% in the second quarter. Squarepoint Ops LLC now owns 356,503 shares of the exchange traded fund’s stock valued at $1,351,000 after acquiring an additional 125,213 shares during the period. Finally, Group One Trading LLC grew its stake in shares of Direxion Daily Small Cap Bear 3X ETF by 1,515.8% during the 1st quarter. Group One Trading LLC now owns 253,630 shares of the exchange traded fund’s stock worth $1,780,000 after acquiring an additional 237,933 shares during the period.

About Direxion Daily Small Cap Bear 3X ETF

Direxion Daily Small Cap Bear 3X Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) 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.