Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Shares of Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $46.53 and traded as low as $44.44. Direxion Daily Small Cap Bear 3X ETF shares last traded at $44.82, with a volume of 4,251,780 shares.

Direxion Daily Small Cap Bear 3X ETF Price Performance

The company has a 50-day simple moving average of $41.40 and a 200-day simple moving average of $46.33.

Institutional Investors Weigh In On Direxion Daily Small Cap Bear 3X ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC grew its stake in shares of Direxion Daily Small Cap Bear 3X ETF by 1,453.9% during the 4th quarter. Virtu Financial LLC now owns 533,377 shares of the exchange traded fund’s stock valued at $4,006,000 after buying an additional 499,052 shares during the period. Group One Trading LLC boosted its stake in shares of Direxion Daily Small Cap Bear 3X ETF by 1,515.8% in the first quarter. Group One Trading LLC now owns 253,630 shares of the exchange traded fund’s stock valued at $1,780,000 after purchasing an additional 237,933 shares during the period. Headlands Technologies LLC grew its stake in shares of Direxion Daily Small Cap Bear 3X ETF by 270.5% during the second quarter. Headlands Technologies LLC now owns 226,716 shares of the exchange traded fund’s stock valued at $859,000 after acquiring an additional 165,530 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Direxion Daily Small Cap Bear 3X ETF by 54.1% during the second quarter. Squarepoint Ops LLC now owns 356,503 shares of the exchange traded fund’s stock worth $1,351,000 after buying an additional 125,213 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Direxion Daily Small Cap Bear 3X ETF during the first quarter worth approximately $702,000.

About Direxion Daily Small Cap Bear 3X ETF

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. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.