Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Up – Still a Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $41.59, but opened at $44.09. Direxion Daily Small Cap Bull 3X Shares shares last traded at $45.21, with a volume of 5,677,950 shares.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The stock has a market cap of $1.39 billion, a PE ratio of 17.29 and a beta of 3.42. The stock has a fifty day simple moving average of $52.53 and a two-hundred day simple moving average of $48.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNA. Family Office Research LLC acquired a new stake in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at $453,000. SLT Holdings LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter worth $701,000. Axxcess Wealth Management LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter worth $5,823,000. Encompass More Asset Management boosted its position in Direxion Daily Small Cap Bull 3X Shares by 178.2% in the 3rd quarter. Encompass More Asset Management now owns 84,764 shares of the exchange traded fund’s stock valued at $3,835,000 after buying an additional 54,300 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter valued at about $710,000.

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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.