Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) Sees Significant Decrease in Short Interest

Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 630,715 shares, a drop of 55.2% from the July 15th total of 1,407,834 shares. Currently, 11.3% of the shares of the stock are short sold. Based on an average daily volume of 3,958,631 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily Small Cap Bear 3X Shares Stock Down 1.5%

Shares of NYSEARCA TZA traded down $0.54 during midday trading on Friday, hitting $36.37. The company had a trading volume of 3,478,268 shares, compared to its average volume of 16,911,314. Direxion Daily Small Cap Bear 3X Shares has a twelve month low of $36.33 and a twelve month high of $105.70. The business has a 50-day simple moving average of $40.16 and a two-hundred day simple moving average of $51.99.

Institutional Investors Weigh In On Direxion Daily Small Cap Bear 3X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. boosted its stake in shares of Direxion Daily Small Cap Bear 3X Shares by 17.3% during the 4th quarter. Vontobel Holding Ltd. now owns 26,145 shares of the exchange traded fund’s stock worth $196,000 after acquiring an additional 3,850 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Direxion Daily Small Cap Bear 3X Shares during the second quarter worth $100,000. Tudor Investment Corp ET AL acquired a new position in Direxion Daily Small Cap Bear 3X Shares during the fourth quarter worth $100,000. StoneX Group Inc. acquired a new position in Direxion Daily Small Cap Bear 3X Shares during the second quarter worth $176,000. Finally, Corient Private Wealth LLC boosted its position in Direxion Daily Small Cap Bear 3X Shares by 125.0% during the second quarter. Corient Private Wealth LLC now owns 45,000 shares of the exchange traded fund’s stock worth $534,000 after purchasing an additional 25,000 shares in the last quarter.

Direxion Daily Small Cap Bear 3X Shares Company Profile

Direxion Daily Small Cap Bear 3X Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) 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.