Direxion Daily Retail Bull 3X Shares (NYSEARCA:RETL) Trading Down 4.8% – Here’s Why

Direxion Daily Retail Bull 3X Shares (NYSEARCA:RETL)’s stock price dropped 4.8% during trading on Wednesday . The company traded as low as $7.73 and last traded at $7.75. 267,241 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 548,060 shares. The stock had previously closed at $8.14.

Direxion Daily Retail Bull 3X Shares Stock Down 4.8%

The company has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $8.52. The company has a market capitalization of $23.41 million, a P/E ratio of 13.74 and a beta of 3.46.

Hedge Funds Weigh In On Direxion Daily Retail Bull 3X Shares

Large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its holdings in Direxion Daily Retail Bull 3X Shares by 52.2% during the 1st quarter. Jane Street Group LLC now owns 36,083 shares of the company’s stock valued at $220,000 after buying an additional 12,383 shares during the period. Group One Trading LLC bought a new position in Direxion Daily Retail Bull 3X Shares during the second quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in Direxion Daily Retail Bull 3X Shares by 393.7% during the second quarter. Tower Research Capital LLC TRC now owns 53,966 shares of the company’s stock valued at $410,000 after acquiring an additional 43,035 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Direxion Daily Retail Bull 3X Shares in the fourth quarter valued at $461,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Direxion Daily Retail Bull 3X Shares in the fourth quarter valued at $158,000.

About Direxion Daily Retail Bull 3X Shares

Direxion Daily Retail Bull 3x Shares, formerly Direxion Daily Retail Bull 2x Shares, seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000 Retail Index. The Retail Index is an index comprised of companies that sell to consumers those discretionary products supplied by manufacturers. These companies include specialty retailers, as well as diversified retailers, such as department stores, discount stores, and superstores. Its investment sector includes hypermarkets and super centers, Internet retail, home improvement retail, apparel retail, general merchandise stores, department stores, automotive retail, specialty stores, home furnishing retail, computer and electronics retail, and catalog retail.