Direxion Daily Aerospace & Defense Bull 3X ETF (NYSEARCA:DFEN) Stock Falls 0.7% – Should You Sell?

Direxion Daily Aerospace & Defense Bull 3X ETF (NYSEARCA:DFEN) shares traded down 0.7% during trading on Wednesday. The stock traded as low as $44.58 and last traded at $45.60. Approximately 340,198 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 289,261 shares. The stock had previously closed at $45.94.

Direxion Daily Aerospace & Defense Bull 3X ETF Trading Down 3.3%

The stock’s fifty day simple moving average is $56.82 and its 200-day simple moving average is $66.94. The stock has a market capitalization of $271.01 million, a PE ratio of 32.76 and a beta of 2.29.

Hedge Funds Weigh In On Direxion Daily Aerospace & Defense Bull 3X ETF

Several institutional investors and hedge funds have recently bought and sold shares of DFEN. NorthRock Partners LLC bought a new position in shares of Direxion Daily Aerospace & Defense Bull 3X ETF in the 2nd quarter worth about $202,000. SBI Securities Co. Ltd. lifted its position in Direxion Daily Aerospace & Defense Bull 3X ETF by 53.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,721 shares of the company’s stock valued at $128,000 after purchasing an additional 949 shares in the last quarter. Finally, Ascentis Independent Advisors boosted its holdings in Direxion Daily Aerospace & Defense Bull 3X ETF by 114.5% in the 1st quarter. Ascentis Independent Advisors now owns 8,767 shares of the company’s stock worth $553,000 after buying an additional 4,680 shares during the period.

About Direxion Daily Aerospace & Defense Bull 3X ETF

The Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) is an exchange-traded fund that is based on the DJ US Select \u002F Aerospace & Defense index. The fund provides 3x leveraged exposure to a market-cap- weighted index of US aerospace and defense companies. DFEN was launched on May 3, 2017 and is managed by Direxion.