Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) Shares Down 6.4%

Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) shares fell 6.4% during mid-day trading on Friday . The stock traded as low as $51.01 and last traded at $51.27, 2,540,084 shares traded hands during trading. An increase of 2% from the average session volume of 2,493,572 shares. The stock had previously closed at $54.79.

The company has a 50 day moving average of $47.00 and a 200-day moving average of $19.18.

Institutional investors and hedge funds have recently made changes to their positions in the stock. 1492 Capital Management LLC increased its position in Direxion Daily Small Cap Bear 3X Shares by 358.0% in the first quarter. 1492 Capital Management LLC now owns 112,753 shares of the exchange traded fund’s stock worth $1,111,000 after buying an additional 88,133 shares during the period. Hengehold Capital Management LLC acquired a new stake in Direxion Daily Small Cap Bear 3X Shares in the first quarter worth $482,000. IMC Chicago LLC acquired a new stake in Direxion Daily Small Cap Bear 3X Shares in the second quarter worth $1,993,000. Moors & Cabot Inc. acquired a new stake in Direxion Daily Small Cap Bear 3X Shares in the first quarter worth $128,000. Finally, Villere ST Denis J & Co. LLC acquired a new stake in Direxion Daily Small Cap Bear 3X Shares in the first quarter worth $126,000.

About Direxion Daily Small Cap Bear 3X Shares (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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