Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Down – Should You Sell?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped down before the market opened on Friday . The stock had previously closed at $49.82, but opened at $46.77. Direxion Daily Small Cap Bull 3X Shares shares last traded at $46.73, with a volume of 6,649,970 shares changing hands.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The company has a market cap of $1.41 billion, a PE ratio of 17.29 and a beta of 3.42. The business’s 50-day moving average is $53.31 and its 200 day moving average is $47.90.

Institutional Investors Weigh In On Direxion Daily Small Cap Bull 3X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of TNA. Safe Harbor Fiduciary LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the 4th quarter valued at about $76,000. Quadrature Capital Ltd bought a new stake in Direxion Daily Small Cap Bull 3X Shares in the fourth quarter valued at approximately $21,919,000. Himension Capital Singapore PTE. LTD. bought a new stake in Direxion Daily Small Cap Bull 3X Shares in the fourth quarter valued at approximately $510,000. RBF Capital LLC purchased a new stake in shares of Direxion Daily Small Cap Bull 3X Shares during the fourth quarter valued at approximately $683,000. Finally, Barclays PLC purchased a new stake in shares of Direxion Daily Small Cap Bull 3X Shares during the fourth quarter valued at approximately $91,000.

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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.