Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Sets New 52-Week Low – Should You Sell?

Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) reached a new 52-week low during trading on Tuesday . The company traded as low as $31.69 and last traded at $31.56, with a volume of 4018620 shares. The stock had previously closed at $34.10.

Direxion Daily Small Cap Bull 3X Shares Trading Down 2.6 %

The company’s 50 day moving average is $42.69 and its 200 day moving average is $44.77. The company has a market cap of $1.62 billion, a PE ratio of 15.60 and a beta of 3.46.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the fourth quarter worth $78,000. Blue Sky Capital Consultants Group Inc. bought a new stake in Direxion Daily Small Cap Bull 3X Shares during the fourth quarter valued at about $1,222,000. Bank of America Corp DE grew its stake 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 purchasing an additional 700 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Direxion Daily Small Cap Bull 3X Shares in the fourth quarter worth about $1,173,000. Finally, GG Group Ventures LLC lifted its position in shares of Direxion Daily Small Cap Bull 3X Shares by 77.4% during the fourth quarter. GG Group Ventures LLC now owns 69,798 shares of the exchange traded fund’s stock valued at $2,923,000 after buying an additional 30,459 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.