Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Trading Up 6.7% – Still a Buy?

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) traded up 6.7% during mid-day trading on Monday . The company traded as high as $34.07 and last traded at $33.92. 223,603 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 216,591 shares. The stock had previously closed at $31.80.

Direxion Daily Aerospace & Defense Bull 3X Shares Trading Up 6.7 %

The stock has a 50 day simple moving average of $31.62 and a 200-day simple moving average of $32.96. The firm has a market cap of $188.26 million, a PE ratio of 30.17 and a beta of 2.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Traynor Capital Management Inc. raised its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 10.2% during the 4th quarter. Traynor Capital Management Inc. now owns 384,884 shares of the company’s stock valued at $10,588,000 after buying an additional 35,629 shares during the period. GTS Securities LLC raised its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 754.8% in the fourth quarter. GTS Securities LLC now owns 23,822 shares of the company’s stock valued at $655,000 after acquiring an additional 21,035 shares during the period. IMC Chicago LLC bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares in the 4th quarter worth about $508,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter worth about $299,000. Finally, TRUE Private Wealth Advisors lifted its stake in Direxion Daily Aerospace & Defense Bull 3X Shares by 25.3% in the fourth quarter. TRUE Private Wealth Advisors now owns 8,042 shares of the company’s stock worth $221,000 after purchasing an additional 1,625 shares during the last quarter.

About Direxion Daily Aerospace & Defense Bull 3X Shares

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.