Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Shares Up 6.7% – Should You Buy?

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) shot up 6.7% on Monday . The company traded as high as $34.07 and last traded at $33.92. 223,603 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 216,591 shares. The stock had previously closed at $31.80.

Direxion Daily Aerospace & Defense Bull 3X Shares Trading Up 6.7 %

The firm has a market cap of $188.26 million, a P/E ratio of 30.17 and a beta of 2.94. The business’s fifty day simple moving average is $31.62 and its 200-day simple moving average is $32.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DFEN. TRUE Private Wealth Advisors bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter valued at about $229,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter valued at $100,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter valued at $299,000. JPMorgan Chase & Co. increased its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,988 shares of the company’s stock worth $142,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Traynor Capital Management Inc. raised its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 10.2% in the 4th quarter. Traynor Capital Management Inc. now owns 384,884 shares of the company’s stock worth $10,588,000 after purchasing an additional 35,629 shares during the period.

Direxion Daily Aerospace & Defense Bull 3X Shares Company Profile

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.