Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) Shares Gap Up – Still a Buy?

Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) gapped up before the market opened on Tuesday . The stock had previously closed at $41.36, but opened at $43.25. Direxion HCM Tactical Enhanced U.S. ETF shares last traded at $43.3860, with a volume of 452 shares.

Direxion HCM Tactical Enhanced U.S. ETF Stock Performance

The stock has a 50-day moving average of $40.70 and a 200 day moving average of $39.31. The firm has a market capitalization of $637.14 million, a P/E ratio of 21.26 and a beta of 1.63.

Institutional Investors Weigh In On Direxion HCM Tactical Enhanced U.S. ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCMT. Discipline Wealth Solutions LLC lifted its position in shares of Direxion HCM Tactical Enhanced U.S. ETF by 301.7% during the first quarter. Discipline Wealth Solutions LLC now owns 1,057,983 shares of the company’s stock worth $37,230,000 after purchasing an additional 794,616 shares in the last quarter. Wealth Watch Advisors INC lifted its holdings in Direxion HCM Tactical Enhanced U.S. ETF by 8.5% during the 1st quarter. Wealth Watch Advisors INC now owns 392,248 shares of the company’s stock worth $13,803,000 after buying an additional 30,783 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Direxion HCM Tactical Enhanced U.S. ETF by 13.6% during the 2nd quarter. NewEdge Advisors LLC now owns 265,483 shares of the company’s stock worth $11,134,000 after buying an additional 31,837 shares in the last quarter. Aegis Wealth Management Inc. boosted its position in Direxion HCM Tactical Enhanced U.S. ETF by 1.0% in the 1st quarter. Aegis Wealth Management Inc. now owns 65,734 shares of the company’s stock valued at $2,313,000 after buying an additional 659 shares during the last quarter. Finally, Global Assets Advisory LLC increased its stake in shares of Direxion HCM Tactical Enhanced U.S. ETF by 3.2% in the 4th quarter. Global Assets Advisory LLC now owns 16,107 shares of the company’s stock valued at $621,000 after buying an additional 495 shares during the period.

About Direxion HCM Tactical Enhanced U.S. ETF

The Direxion HCM Tactical Enhanced US ETF (HCMT) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund-of-funds that toggles between a 200% leveraged US equity position and a 100% investment to cash or cash equivalents based on a proprietary tactical indicator that identifies broad trends in the US equity markets. HCMT was launched on Jun 22, 2023 and is managed by Direxion.