Shares of Direxion Daily 20 Year Plus Treasury Bull 3x Shares (NYSEARCA:TMF) Gaps Up: Here’s What You Need to Know

On Friday, shares of Direxion Daily 20 Year Plus Treasury Bull 3x Shares (NYSEARCA:TMF - Get Free Report) saw a notable gap up before the market opened. The stock had closed at $43.91 but started trading at a higher price of $44.93. The latest trade for TMF shares was recorded at $44.57, with a trading volume of 1,229,048 shares.

Price Performance of Direxion Daily 20 Year Plus Treasury Bull 3x Shares

The stock has recently demonstrated a strong correlation to its moving averages, with a 50-day moving average sitting at $41.17 and a longer-term 200-day moving average at $47.87.

Changes Among Institutional Investors

There have been several important shifts in ownership among institutional investors over recent months concerning Direxion Daily 20 Year Plus Treasury Bull 3x Shares. For instance, HighTower Advisors LLC acquired a new stake in the fund during the third quarter, valued at approximately $209,000. In addition, JPMorgan Chase & Co. made significant adjustments, increasing its position by a whopping 626.8% during the third quarter, resulting in ownership of 287,834 shares worth $16,625,000 after buying an additional 248,230 shares. Vontobel Holding Ltd. also bolstered its stake by 188.8%, now controlling 21,345 shares valued at $853,000 after purchasing more shares. Furthermore, PPSC Investment Service Corp raised its holding by 185.5% in the fourth quarter and now owns 113,852 shares valued at $4,551,000 after acquiring an additional 73,975 shares. Lastly, Aveo Capital Partners LLC also made a substantial investment, purchasing a new stake in TMF during the fourth quarter worth about $1,911,000.

About Direxion Daily 20 Year Plus Treasury Bull 3x Shares

This fund, previously known as Direxion Daily 30-Year Treasury Bull 3X Shares, aims to provide daily investment results that reflect 300% of the price performance of the NYSE 20 Year Plus Treasury Bond Index. This index includes a variety of fixed-income securities and intends to track total returns for U.S. Treasury bonds with maturities of 20 years or more.

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