Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Shares Down 3% – Time to Sell?

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN)’s stock price dropped 3% on Monday . The stock traded as low as $66.01 and last traded at $66.88. Approximately 163,664 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 326,498 shares. The stock had previously closed at $68.92.

Direxion Daily Aerospace & Defense Bull 3X Shares Price Performance

The firm has a 50 day simple moving average of $66.72 and a two-hundred day simple moving average of $71.86. The stock has a market cap of $397.94 million, a price-to-earnings ratio of 32.76 and a beta of 2.23.

Institutional Investors Weigh In On Direxion Daily Aerospace & Defense Bull 3X Shares

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 10.5% during the third quarter. Tower Research Capital LLC TRC now owns 48,503 shares of the company’s stock worth $3,335,000 after purchasing an additional 4,593 shares during the period. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the third quarter worth about $1,711,000. Group One Trading LLC raised its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 83.1% during the fourth quarter. Group One Trading LLC now owns 16,651 shares of the company’s stock worth $1,064,000 after purchasing an additional 7,559 shares during the period. JPMorgan Chase & Co. raised its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 67.7% during the third quarter. JPMorgan Chase & Co. now owns 14,858 shares of the company’s stock worth $1,021,000 after purchasing an additional 5,998 shares during the period. Finally, Ascentis Independent Advisors raised its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 114.5% during the first quarter. Ascentis Independent Advisors now owns 8,767 shares of the company’s stock worth $553,000 after purchasing an additional 4,680 shares during the period.

Direxion Daily Aerospace & Defense Bull 3X Shares Company Profile

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.