Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Reaches New 1-Year Low – Time to Sell?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) hit a new 52-week low during trading on Tuesday . The stock traded as low as $31.69 and last traded at $31.56, with a volume of 4018620 shares trading hands. The stock had previously closed at $34.10.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The firm has a market capitalization of $1.62 billion, a PE ratio of 15.60 and a beta of 3.46. The business’s fifty day simple moving average is $42.69 and its 200-day simple moving average is $44.77.

Institutional Trading of Direxion Daily Small Cap Bull 3X Shares

Several hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management boosted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 5,277.3% during the 3rd quarter. Hollencrest Capital Management now owns 482,773 shares of the exchange traded fund’s stock worth $21,406,000 after purchasing an additional 473,795 shares during the period. Tidal Investments LLC purchased a new position in shares of Direxion Daily Small Cap Bull 3X Shares during the third quarter valued at approximately $11,528,000. Peregrine Investment Management Inc. bought a new position in shares of Direxion Daily Small Cap Bull 3X Shares during the fourth quarter valued at approximately $10,051,000. Oriental Harbor Investment Fund purchased a new stake in shares of Direxion Daily Small Cap Bull 3X Shares in the third quarter worth approximately $7,720,000. Finally, Jump Financial LLC lifted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 213.7% during the 4th quarter. Jump Financial LLC now owns 254,454 shares of the exchange traded fund’s stock worth $10,657,000 after acquiring an additional 173,348 shares during the last quarter.

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.