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

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) reached a new 52-week high during trading on Wednesday . The company traded as high as $58.48 and last traded at $57.74, with a volume of 12703092 shares trading hands. The stock had previously closed at $54.77.

Direxion Daily Small Cap Bull 3X Shares Stock Up 5.9%

The company has a market cap of $1.92 billion, a price-to-earnings ratio of 17.29 and a beta of 3.42. The firm has a 50 day moving average price of $47.93 and a two-hundred day moving average price of $43.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Direxion Daily Small Cap Bull 3X Shares by 906.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the exchange traded fund’s stock valued at $33,000 after purchasing an additional 662 shares during the last quarter. Bank of America Corp DE lifted its holdings in Direxion Daily Small Cap Bull 3X Shares by 402.3% in the fourth quarter. Bank of America Corp DE now owns 874 shares of the exchange traded fund’s stock valued at $37,000 after buying an additional 700 shares during the period. CWM LLC acquired a new position in Direxion Daily Small Cap Bull 3X Shares in the third quarter valued at $40,000. FSA Wealth Management LLC bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the second quarter valued at $47,000. Finally, Manchester Capital Management LLC bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the second quarter valued at $50,000.

Direxion Daily Small Cap Bull 3X Shares Company Profile

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.