Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Shares Down 1.9% – Should You Sell?

Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN)’s share price were down 1.9% during mid-day trading on Monday . The company traded as low as $66.43 and last traded at $66.77. 140,524 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 297,838 shares. The stock had previously closed at $68.05.

Direxion Daily Aerospace & Defense Bull 3X Shares Price Performance

The firm’s 50 day moving average price is $72.25 and its two-hundred day moving average price is $74.87. The stock has a market cap of $343.20 million, a PE ratio of 32.76 and a beta of 2.23.

Hedge Funds Weigh In On Direxion Daily Aerospace & Defense Bull 3X Shares

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 437.9% in the second quarter. JPMorgan Chase & Co. now owns 8,860 shares of the company’s stock valued at $460,000 after purchasing an additional 7,213 shares in the last quarter. Walleye Capital LLC bought a new position in Direxion Daily Aerospace & Defense Bull 3X Shares in the 2nd quarter worth about $314,000. Bank of America Corp DE boosted its stake in Direxion Daily Aerospace & Defense Bull 3X Shares by 102.7% in the 2nd quarter. Bank of America Corp DE now owns 5,390 shares of the company’s stock worth $280,000 after purchasing an additional 205,390 shares during the period. Group One Trading LLC grew its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 1,597.6% during the 2nd quarter. Group One Trading LLC now owns 10,712 shares of the company’s stock valued at $556,000 after buying an additional 10,081 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 29.0% during the second quarter. Tower Research Capital LLC TRC now owns 43,910 shares of the company’s stock valued at $2,278,000 after buying an additional 9,883 shares during the period.

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.