Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Shares of Direxion Daily Small Cap Bear 3X ETF (NYSEARCA:TZA) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $44.66 and traded as low as $43.95. Direxion Daily Small Cap Bear 3X ETF shares last traded at $44.54, with a volume of 4,667,654 shares traded.

Direxion Daily Small Cap Bear 3X ETF Trading Up 5.0%

The company’s 50-day moving average price is $44.81 and its two-hundred day moving average price is $50.28.

Institutional Trading of Direxion Daily Small Cap Bear 3X ETF

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in Direxion Daily Small Cap Bear 3X ETF during the 2nd quarter valued at approximately $200,000. Bank of New York Mellon Corp purchased a new stake in Direxion Daily Small Cap Bear 3X ETF in the 1st quarter valued at about $702,000. Headlands Technologies LLC boosted 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 purchasing an additional 165,530 shares in the last quarter. Group One Trading LLC grew its stake in 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 last quarter. Finally, Squarepoint Ops LLC grew its holdings in Direxion Daily Small Cap Bear 3X ETF by 54.1% in the second quarter. Squarepoint Ops LLC now owns 356,503 shares of the exchange traded fund’s stock worth $1,351,000 after purchasing an additional 125,213 shares during the last quarter.

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.