Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped down prior to trading on Wednesday . The stock had previously closed at $43.70, but opened at $41.69. Direxion Daily Small Cap Bull 3X Shares shares last traded at $42.11, with a volume of 4,404,829 shares changing hands.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The stock has a 50 day moving average of $44.73 and a two-hundred day moving average of $44.69. The firm has a market capitalization of $2.74 billion, a P/E ratio of 13.84 and a beta of 3.74.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in Direxion Daily Small Cap Bull 3X Shares by 1,363.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 600 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 559 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of Direxion Daily Small Cap Bull 3X Shares in the fourth quarter worth $38,000. ORG Wealth Partners LLC grew its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 26.1% in the fourth quarter. ORG Wealth Partners LLC now owns 2,400 shares of the exchange traded fund’s stock worth $101,000 after acquiring an additional 496 shares during the last quarter. Hartford Financial Management Inc. grew its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 120.0% in the third quarter. Hartford Financial Management Inc. now owns 2,750 shares of the exchange traded fund’s stock worth $122,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 79.4% in the third quarter. Covestor Ltd now owns 4,028 shares of the exchange traded fund’s stock worth $179,000 after acquiring an additional 1,783 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.