Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Trading Up 7.4% – Here’s Why

Shares of Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) traded up 7.4% on Thursday . The stock traded as high as $83.20 and last traded at $82.9950. 141,438 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 390,551 shares. The stock had previously closed at $77.31.

Direxion Daily Aerospace & Defense Bull 3X Shares Trading Up 2.2%

The firm has a market capitalization of $481.90 million, a price-to-earnings ratio of 32.76 and a beta of 2.80. The company has a fifty day moving average price of $73.51 and a 200-day moving average price of $66.84.

Direxion Daily Aerospace & Defense Bull 3X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were issued a $5.5496 dividend. This is a boost from Direxion Daily Aerospace & Defense Bull 3X Shares’s previous quarterly dividend of $0.05. This represents a $22.20 dividend on an annualized basis and a yield of 28.1%. The ex-dividend date was Wednesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Next Capital Management LLC acquired a new position in Direxion Daily Aerospace & Defense Bull 3X Shares during the second quarter valued at approximately $208,000. Simplex Trading LLC bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 2nd quarter worth $398,000. SBI Securities Co. Ltd. grew its stake in Direxion Daily Aerospace & Defense Bull 3X Shares by 48.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,253 shares of the company’s stock valued at $65,000 after buying an additional 407 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in Direxion Daily Aerospace & Defense Bull 3X Shares by 16.3% in the 2nd quarter. TRUE Private Wealth Advisors now owns 8,028 shares of the company’s stock valued at $416,000 after buying an additional 1,128 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 437.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,860 shares of the company’s stock worth $460,000 after acquiring an additional 7,213 shares during the period.

About Direxion Daily Aerospace & Defense Bull 3X Shares

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.