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

Shares of Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN) dropped 10.7% during trading on Thursday . The company traded as low as $83.00 and last traded at $83.10. Approximately 331,229 shares traded hands during mid-day 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 Stock Performance

The firm has a market cap of $506.67 million, a P/E ratio of 32.76 and a beta of 2.80. The firm’s fifty day moving average is $81.40 and its 200 day 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. Shareholders of record on Wednesday, December 10th were issued a dividend of $5.5496 per share. This represents a $22.20 annualized dividend 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TRUE Private Wealth Advisors grew its holdings in Direxion Daily Aerospace & Defense Bull 3X Shares by 16.3% during the second quarter. TRUE Private Wealth Advisors now owns 8,028 shares of the company’s stock worth $416,000 after buying an additional 1,128 shares in the last quarter. Simplex Trading LLC purchased a new position in Direxion Daily Aerospace & Defense Bull 3X Shares in the second quarter worth $398,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares during the 3rd quarter valued at $1,711,000. Verus Capital Partners LLC raised its stake in shares of Direxion Daily Aerospace & Defense Bull 3X Shares by 36.0% during the 3rd quarter. Verus Capital Partners LLC now owns 7,955 shares of the company’s stock worth $547,000 after purchasing an additional 2,107 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily Aerospace & Defense Bull 3X Shares in the 3rd quarter worth about $436,000.

About Direxion Daily Aerospace & Defense Bull 3X Shares

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.