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

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s share price gapped down prior to trading on Friday . The stock had previously closed at $44.80, but opened at $43.88. Direxion Daily Small Cap Bull 3X Shares shares last traded at $44.09, with a volume of 2,282,203 shares trading hands.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 13.84 and a beta of 3.74. The business has a fifty day simple moving average of $48.92 and a 200 day simple moving average of $43.65.

Hedge Funds Weigh In On Direxion Daily Small Cap Bull 3X Shares

A number of hedge funds have recently bought and sold shares of TNA. JPMorgan Chase & Co. bought a new position in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter worth $1,564,000. Oriental Harbor Investment Fund bought a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the third quarter worth $7,720,000. Tidal Investments LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the third quarter valued at about $11,528,000. World Investment Advisors LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the third quarter valued at about $964,000. Finally, Discipline Wealth Solutions LLC bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the third quarter worth about $399,000.

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.