Direxion Daily Small Cap Bull 3X ETF (NYSEARCA:TNA) Shares Climb 9.6% – Should You Buy?

Shares of Direxion Daily Small Cap Bull 3X ETF (NYSEARCA:TNA) were up 9.6% during trading on Monday. The company traded as high as $59.67 and last traded at $58.90. Approximately 6,111,227 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 7,424,192 shares. The stock had previously closed at $53.73.

Direxion Daily Small Cap Bull 3X ETF Trading Up 9.6%

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.29 and a beta of 3.40. The business’s 50 day moving average price is $60.03 and its two-hundred day moving average price is $61.17.

Institutional Trading of Direxion Daily Small Cap Bull 3X ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new position in shares of Direxion Daily Small Cap Bull 3X ETF during the third quarter worth $367,000. Covestor Ltd boosted its holdings in shares of Direxion Daily Small Cap Bull 3X ETF by 11.8% during the 3rd quarter. Covestor Ltd now owns 2,177 shares of the exchange traded fund’s stock valued at $126,000 after acquiring an additional 229 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Small Cap Bull 3X ETF by 95.7% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,704 shares of the exchange traded fund’s stock valued at $445,000 after acquiring an additional 3,768 shares in the last quarter. Genesee Capital Advisors LLC boosted its holdings in shares of Direxion Daily Small Cap Bull 3X ETF by 36.8% during the 3rd quarter. Genesee Capital Advisors LLC now owns 5,224 shares of the exchange traded fund’s stock valued at $302,000 after acquiring an additional 1,405 shares in the last quarter. Finally, Encompass More Asset Management grew its position in Direxion Daily Small Cap Bull 3X ETF by 21.2% during the 3rd quarter. Encompass More Asset Management now owns 48,862 shares of the exchange traded fund’s stock worth $2,821,000 after acquiring an additional 8,546 shares during the last quarter.

About Direxion Daily Small Cap Bull 3X ETF

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.