Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Up – Time to Buy?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped up prior to trading on Monday . The stock had previously closed at $27.70, but opened at $30.96. Direxion Daily Small Cap Bull 3X Shares shares last traded at $30.65, with a volume of 5,259,475 shares changing hands.

Direxion Daily Small Cap Bull 3X Shares Trading Up 1.1%

The company has a market cap of $2.07 billion, a P/E ratio of 17.29 and a beta of 3.37. The company has a 50 day moving average price of $26.91 and a 200-day moving average price of $39.09.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TNA. Bank of America Corp DE boosted its position in Direxion Daily Small Cap Bull 3X Shares by 402.3% in the fourth quarter. Bank of America Corp DE now owns 874 shares of the exchange traded fund’s stock valued at $37,000 after buying an additional 700 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Direxion Daily Small Cap Bull 3X Shares during the fourth quarter worth $38,000. Copia Wealth Management lifted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 135.2% in the 1st quarter. Copia Wealth Management now owns 1,249 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 718 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 154.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,525 shares of the exchange traded fund’s stock valued at $64,000 after acquiring an additional 925 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Direxion Daily Small Cap Bull 3X Shares during the 1st quarter valued at $120,000.

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.