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

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $43.70, but opened at $41.69. Direxion Daily Small Cap Bull 3X Shares shares last traded at $42.11, with a volume of 4,404,829 shares changing hands.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The firm has a market capitalization of $2.65 billion, a P/E ratio of 13.84 and a beta of 3.74. The stock’s 50 day simple moving average is $45.16 and its 200 day simple moving average is $44.71.

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

Several hedge funds have recently made changes to their positions in TNA. Hollencrest Capital Management boosted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 5,277.3% during the third quarter. Hollencrest Capital Management now owns 482,773 shares of the exchange traded fund’s stock valued at $21,406,000 after purchasing an additional 473,795 shares in the last quarter. Tidal Investments LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the third quarter worth $11,528,000. Peregrine Investment Management Inc. bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the 4th quarter valued at $10,051,000. Oriental Harbor Investment Fund bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the 3rd quarter valued at $7,720,000. Finally, Spire Wealth Management increased its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 18,362.9% in the 4th quarter. Spire Wealth Management now owns 76,067 shares of the exchange traded fund’s stock valued at $3,186,000 after acquiring an additional 75,655 shares during the period.

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.