Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Stock Price Down 6.9%

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA – Get Rating) traded down 6.9% during mid-day trading on Friday . The company traded as low as $28.72 and last traded at $28.88. 6,405,363 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 10,726,096 shares. The stock had previously closed at $31.01.

Direxion Daily Small Cap Bull 3X Shares Stock Performance

The firm’s 50-day moving average is $38.33 and its 200-day moving average is $36.07.

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

Several hedge funds and other institutional investors have recently modified their holdings of TNA. Jane Street Group LLC grew its holdings in Direxion Daily Small Cap Bull 3X Shares by 128.5% in the second quarter. Jane Street Group LLC now owns 176,016 shares of the exchange traded fund’s stock worth $5,773,000 after purchasing an additional 793,141 shares during the period. Simplex Trading LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares in the third quarter worth about $3,958,000. BNP Paribas Arbitrage SNC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares in the third quarter worth about $2,849,000. SP Asset Management LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares in the fourth quarter worth about $2,541,000. Finally, Virtu Financial LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares in the fourth quarter worth about $1,349,000.

About Direxion Daily Small Cap Bull 3X Shares

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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.