Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) Shares Down 10.7% – What’s Next?

Shares of Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) dropped 10.7% during trading on Thursday . The stock traded as low as $83.00 and last traded at $83.10. Approximately 331,229 shares changed hands during trading, a decline of 17% from the average daily volume of 398,751 shares. The stock had previously closed at $93.08.

Direxion Daily Aerospace & Defense Bull 3X Shares Price Performance

The stock has a market cap of $506.67 million, a P/E ratio of 32.76 and a beta of 2.80. The stock’s 50 day simple moving average is $81.40 and its two-hundred day simple moving average is $69.95.

Direxion Daily Aerospace & Defense Bull 3X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were paid a $5.5496 dividend. This represents a $22.20 dividend on an annualized basis and a yield of 26.7%. The ex-dividend date of this dividend was Wednesday, December 10th. This is a boost from Direxion Daily Aerospace & Defense Bull 3X Shares’s previous quarterly dividend of $0.05.

Institutional Trading of Direxion Daily Aerospace & Defense Bull 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Simplex Trading LLC bought a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares in the second quarter valued at about $398,000. SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 48.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,253 shares of the company’s stock worth $65,000 after acquiring an additional 407 shares in the last quarter. TRUE Private Wealth Advisors raised its holdings in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 16.3% in the second quarter. TRUE Private Wealth Advisors now owns 8,028 shares of the company’s stock valued at $416,000 after purchasing an additional 1,128 shares during the last quarter. JPMorgan Chase & Co. lifted 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 worth $460,000 after purchasing an additional 7,213 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Direxion Daily Aerospace & Defense Bull 3X Shares during the second quarter worth $314,000.

Direxion Daily Aerospace & Defense Bull 3X Shares 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.