Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) Shares Gap Up – Still a Buy?

Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) shares gapped up prior to trading on Friday . The stock had previously closed at $39.94, but opened at $41.45. Direxion Daily Small Cap Bear 3X Shares shares last traded at $40.32, with a volume of 1,038,397 shares traded.

Direxion Daily Small Cap Bear 3X Shares Price Performance

The stock’s 50 day moving average price is $42.80 and its 200-day moving average price is $55.70.

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

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC raised its holdings in Direxion Daily Small Cap Bear 3X Shares by 1,453.9% during the fourth quarter. Virtu Financial LLC now owns 533,377 shares of the exchange traded fund’s stock valued at $4,006,000 after acquiring an additional 499,052 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Direxion Daily Small Cap Bear 3X Shares by 134.1% in the third quarter. JPMorgan Chase & Co. now owns 19,758 shares of the exchange traded fund’s stock valued at $162,000 after acquiring an additional 11,317 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Direxion Daily Small Cap Bear 3X Shares by 125.0% in the second quarter. Corient Private Wealth LLC now owns 45,000 shares of the exchange traded fund’s stock worth $534,000 after acquiring an additional 25,000 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Direxion Daily Small Cap Bear 3X Shares by 11,756.2% in the second quarter. Qube Research & Technologies Ltd now owns 61,652 shares of the exchange traded fund’s stock worth $731,000 after acquiring an additional 61,132 shares during the period. Finally, Jump Financial LLC grew its position in shares of Direxion Daily Small Cap Bear 3X Shares by 4,731.7% during the fourth quarter. Jump Financial LLC now owns 1,196,532 shares of the exchange traded fund’s stock worth $8,986,000 after purchasing an additional 1,171,768 shares in the last quarter.

Direxion Daily Small Cap Bear 3X Shares Company Profile

Direxion Daily Small Cap Bear 3X Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) 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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.