Why Direxion Daily 20 Year Plus Treasury Bull 3x Shares (NYSEARCA:TMF) Gapped Up

On Friday, shares of Direxion Daily 20 Year Plus Treasury Bull 3x Shares (NYSEARCA:TMF) experienced a notable gap up in price before the market opened. The stock, which closed at $43.91 the previous day, started trading at $44.93. At last check, its most recent trading price was $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's performance can be analyzed through its moving averages. Currently, the 50-day moving average stands at $41.17, while the 200-day moving average is notably higher at $47.87.

Institutional Investment Activity

Recent activity among institutional investors and hedge funds shows significant changes in their stakes in Direxion Daily 20 Year Plus Treasury Bull 3x Shares. HighTower Advisors LLC made a new investment in the third quarter valued at approximately $209,000. JPMorgan Chase & Co. increased its position by an impressive 626.8% in the same quarter, now holding 287,834 shares valued at $16,625,000 after adding 248,230 shares. Another firm, Vontobel Holding Ltd., raised its ownership by 188.8% in the fourth quarter, acquiring an additional 13,955 shares for a total of 21,345 shares valued at $853,000. Likewise, PPSC Investment Service Corp expanded its stake by 185.5% in the fourth quarter, now owning 113,852 shares worth $4,551,000 after buying 73,975 additional shares. Finally, Aveo Capital Partners LLC also acquired a new stake in this fund valued at about $1,911,000 during the fourth quarter.

About Direxion Daily 20 Year Plus Treasury Bull 3x Shares

Direxion Daily 20 Year Plus Treasury Bull 3x Shares, previously known as Direxion Daily 30-Year Treasury Bull 3X Shares, seeks to achieve daily investment results that correspond to 300% of the price performance of the NYSE 20 Year Plus Treasury Bond Index. This index tracks the total returns of the long-term United States Treasury bond market, specifically those with maturities of 20 years and above.

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