Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Up – Here’s Why

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $41.40, but opened at $43.17. Direxion Daily Small Cap Bull 3X Shares shares last traded at $42.85, with a volume of 4,817,507 shares trading hands.

Direxion Daily Small Cap Bull 3X Shares Stock Up 2.9 %

The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.84 and a beta of 3.74. The stock’s 50-day simple moving average is $41.46 and its 200 day simple moving average is $39.43.

Hedge Funds Weigh In On Direxion Daily Small Cap Bull 3X Shares

A number of institutional investors have recently modified their holdings of TNA. TB Alternative Assets Ltd. bought a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the first quarter worth about $20,426,000. Squarepoint Ops LLC bought a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the second quarter worth about $10,661,000. IMC Chicago LLC raised its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 1,221.5% in the second quarter. IMC Chicago LLC now owns 246,514 shares of the exchange traded fund’s stock worth $9,040,000 after acquiring an additional 227,860 shares during the last quarter. Thames Capital Management LLC bought a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the second quarter worth about $8,253,000. Finally, Flow Traders U.S. LLC raised its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 1,239.4% in the first quarter. Flow Traders U.S. LLC now owns 206,126 shares of the exchange traded fund’s stock worth $8,847,000 after acquiring an additional 190,736 shares during the last quarter.

About Direxion Daily Small Cap Bull 3X Shares

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.