Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) Shares Down 5.7%

Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $9.43 and last traded at $9.44. Approximately 16,362,666 shares traded hands during trading, an increase of 38% from the average daily volume of 11,829,456 shares. The stock had previously closed at $10.01.

The stock has a fifty day simple moving average of $10.67.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TZA. Virtu Financial LLC acquired a new position in Direxion Daily Small Cap Bear 3X Shares during the first quarter worth $1,431,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Direxion Daily Small Cap Bear 3X Shares in the first quarter valued at about $111,000. JFS Wealth Advisors LLC raised its holdings in shares of Direxion Daily Small Cap Bear 3X Shares by 45.5% in the first quarter. JFS Wealth Advisors LLC now owns 8,000 shares of the exchange traded fund’s stock valued at $79,000 after purchasing an additional 2,500 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Direxion Daily Small Cap Bear 3X Shares in the first quarter valued at about $113,000. Finally, Hengehold Capital Management LLC purchased a new stake in shares of Direxion Daily Small Cap Bear 3X Shares in the first quarter valued at about $482,000.

Direxion Daily Small Cap Bear 3X Shares Company Profile (NYSEARCA:TZA)

Direxion Daily Small Cap Bear 3X Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) 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.

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