Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Sets New 52-Week High – Time to Buy?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $55.10 and last traded at $54.16, with a volume of 8591278 shares. The stock had previously closed at $54.26.

Direxion Daily Small Cap Bull 3X Shares Price Performance

The company’s fifty day moving average price is $46.79 and its 200 day moving average price is $43.27. The company has a market cap of $1.86 billion, a PE ratio of 17.29 and a beta of 3.42.

Hedge Funds Weigh In On Direxion Daily Small Cap Bull 3X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of TNA. 1248 Management LLC grew its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 11.5% in the second quarter. 1248 Management LLC now owns 2,900 shares of the exchange traded fund’s stock valued at $98,000 after acquiring an additional 300 shares in the last quarter. Hollencrest Capital Management boosted its position in Direxion Daily Small Cap Bull 3X Shares by 17.3% in the second quarter. Hollencrest Capital Management now owns 2,095 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 309 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in Direxion Daily Small Cap Bull 3X Shares by 2.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,282 shares of the exchange traded fund’s stock valued at $546,000 after purchasing an additional 328 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Direxion Daily Small Cap Bull 3X Shares by 2.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 13,924 shares of the exchange traded fund’s stock valued at $630,000 after purchasing an additional 390 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Direxion Daily Small Cap Bull 3X Shares by 8.6% during the 3rd quarter. NewEdge Advisors LLC now owns 7,737 shares of the exchange traded fund’s stock valued at $350,000 after purchasing an additional 614 shares during the last quarter.

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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.