Direxion Daily Aerospace & Defense Bull 3X ETF (NYSEARCA:DFEN) Stock Falls 0.7% – Time to Sell?

Shares of Direxion Daily Aerospace & Defense Bull 3X ETF (NYSEARCA:DFEN) were down 0.7% on Wednesday. The stock traded as low as $44.58 and last traded at $45.60. 340,198 shares were traded during mid-day trading, an increase of 18% from the average session volume of 289,261 shares. The stock had previously closed at $45.94.

Direxion Daily Aerospace & Defense Bull 3X ETF Stock Down 0.7%

The stock has a market cap of $285 million, a P/E ratio of 32.76 and a beta of 2.29. The company has a 50-day simple moving average of $57.61 and a two-hundred day simple moving average of $67.09.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Direxion Daily Aerospace & Defense Bull 3X ETF stock. NorthRock Partners LLC purchased a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X ETF (NYSEARCA:DFEN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,526 shares of the company’s stock, valued at approximately $202,000.

Direxion Daily Aerospace & Defense Bull 3X ETF 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.