Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Shares Down 3% – Time to Sell?

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN)’s share price traded down 3% during mid-day trading on Monday . The company traded as low as $66.01 and last traded at $66.88. 163,664 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 326,498 shares. The stock had previously closed at $68.92.

Direxion Daily Aerospace & Defense Bull 3X Shares Stock Performance

The stock has a 50-day moving average of $66.72 and a 200-day moving average of $71.86. The firm has a market cap of $397.94 million, a price-to-earnings ratio of 32.76 and a beta of 2.23.

Institutional Investors Weigh In On Direxion Daily Aerospace & Defense Bull 3X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IMC Chicago LLC bought a new position in Direxion Daily Aerospace & Defense Bull 3X Shares in the third quarter valued at approximately $1,711,000. Wealth Enhancement Advisory Services LLC bought a new position in Direxion Daily Aerospace & Defense Bull 3X Shares in the third quarter valued at approximately $436,000. Tower Research Capital LLC TRC boosted its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 10.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 48,503 shares of the company’s stock worth $3,335,000 after acquiring an additional 4,593 shares during the period. Group One Trading LLC boosted its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 83.1% during the 4th quarter. Group One Trading LLC now owns 16,651 shares of the company’s stock worth $1,064,000 after acquiring an additional 7,559 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 67.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,858 shares of the company’s stock worth $1,021,000 after acquiring an additional 5,998 shares during the period.

Direxion Daily Aerospace & Defense Bull 3X Shares Company Profile

The Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) is an exchange-traded fund that is based on the DJ US Select \u002F Aerospace & Defense index. The fund provides 3x leveraged exposure to a market-cap- weighted index of US aerospace and defense companies. DFEN was launched on May 3, 2017 and is managed by Direxion.