Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Sets New 12-Month High – Time to Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $60.57 and last traded at $60.56, with a volume of 4069599 shares changing hands. The stock had previously closed at $56.54.

Direxion Daily Small Cap Bull 3X Shares Price Performance

The company’s 50-day simple moving average is $49.90 and its 200-day simple moving average is $48.95. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 17.29 and a beta of 3.23.

Institutional Trading of Direxion Daily Small Cap Bull 3X Shares

A number of hedge funds have recently made changes to their positions in TNA. Bank of America Corp DE grew its position in shares of Direxion Daily Small Cap Bull 3X Shares by 402.3% during the fourth quarter. Bank of America Corp DE now owns 874 shares of the exchange traded fund’s stock worth $37,000 after buying an additional 700 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Direxion Daily Small Cap Bull 3X Shares by 11.6% during the first quarter. Integrated Wealth Concepts LLC now owns 8,241 shares of the exchange traded fund’s stock worth $241,000 after buying an additional 854 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Direxion Daily Small Cap Bull 3X Shares by 36.1% during the first quarter. NewEdge Advisors LLC now owns 12,365 shares of the exchange traded fund’s stock worth $362,000 after buying an additional 3,280 shares in the last quarter. Group One Trading LLC grew its position in shares of Direxion Daily Small Cap Bull 3X Shares by 402.6% during the second quarter. Group One Trading LLC now owns 5,101 shares of the exchange traded fund’s stock worth $171,000 after buying an additional 4,086 shares in the last quarter. Finally, Modern Wealth Management LLC acquired a new stake in shares of Direxion Daily Small Cap Bull 3X Shares during the second quarter worth approximately $234,000.

Direxion Daily Small Cap Bull 3X Shares Company Profile

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.