Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Reaches New 12-Month High – What’s Next?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) hit a new 52-week high during trading on Wednesday . The company traded as high as $58.48 and last traded at $57.74, with a volume of 12703092 shares trading hands. The stock had previously closed at $54.77.

Direxion Daily Small Cap Bull 3X Shares Trading Up 5.9%

The firm’s 50 day moving average price is $47.93 and its two-hundred day moving average price is $43.99. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 17.29 and a beta of 3.42.

Institutional Trading of Direxion Daily Small Cap Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of TNA. Sollinda Capital Management LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the 3rd quarter valued at $19,753,000. Peregrine Investment Management Inc. bought a new stake in shares of Direxion Daily Small Cap Bull 3X Shares in the second quarter valued at about $10,062,000. Elevatus Welath Management acquired a new position in shares of Direxion Daily Small Cap Bull 3X Shares in the second quarter valued at about $6,801,000. Flow Traders U.S. LLC grew its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 282.7% in the second quarter. Flow Traders U.S. LLC now owns 236,805 shares of the exchange traded fund’s stock valued at $7,942,000 after acquiring an additional 174,934 shares in the last quarter. Finally, Ridgepath Capital Management LLC bought a new position in Direxion Daily Small Cap Bull 3X Shares during the third quarter worth about $5,823,000.

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.