Investing in TNA Stock: Predictions, Live Stats, and What to Know
Direxion is a financial services firm known for its leveraged ETFs, including its stock TNA, traded on the NYSEARCA exchange. TNA is designed to provide 300% of the daily performance of the Russell 2000 Index, making it an intriguing yet volatile option for investors.
Have you ever wondered how to invest in TNA stock or considered adding it to your portfolio? Whether you’re a seasoned investor or just looking to boost your income, staying on top of profitable stocks like TNA is essential. But what exactly is the TNA ETF stock, and is it right for you? Before diving into the potential of TNA’s dividends, let’s first explore what makes Direxion and this stock stand out.
What is Direxion’s Daily Small Cap ETF?
Direxion is a specialised financial services firm, well-known for its leveraged exchange-traded funds (ETFs). Headquartered in Alexandria, Virginia, with offices in New York City, Boston, and Hong Kong, the company was founded in 1997 as Potomac Funds.
Direxion initially focused on mutual funds, taking its name from the nearby Potomac River, which reflected its first office location in Alexandria. Today, Direxion is known for offering ETFs like the Daily Small Cap. It caters to investors seeking amplified exposure to small-cap stocks.
In November 1997, Potomac Funds, which later became Direxion, launched an inverse mutual fund, making it the second company to do so after Rydex Investments in 1994. In 2006, the company rebranded as Direxion, adding the “X” to emphasise its focus on leveraged index funds. That same year, Direxion expanded its presence by opening a new office in Boston’s Prudential Tower.
Introduction of the First Leveraged ETFs in 2008
In 2008, Direxion made a significant mark in the ETF market by introducing its first leveraged ETFs, including the pioneering 3X leveraged ETFs.
The innovative TNA stock holdings are designed to provide 300% of the daily performance of the Russell 2000 Index, making it an intriguing yet volatile option for investors.
This strategy quickly attracted competitors such as ProShares and Rydex Investments, establishing Direxion as one of the fastest-growing ETF providers.
By April 2009, Direxion’s sixteen 3X ETFs had accumulated $3.4 billion in assets. However, this fast growth drew attention from regulators, including the SEC and the Massachusetts Secretary of the Commonwealth, who raised concerns over tracking errors.
The ETFs, designed to provide 3X daily leverage, were sometimes misused by investors as long-term hedges, contrary to their intended purpose.
Broadening Portfolio With 24 New Funds
In December 2010, Direxion expanded its offerings by introducing 24 new funds, including a mix of non-leveraged options.
By 2011, its gold miner ETFs had become some of the most actively traded in their sector.
In February 2020, Direxion launched its first leveraged ESG fund. It offered 150% long and 50% short exposure based on the MSCI USA ESG Index. During the market volatility in March 2020, Direxion reduced leverage on ten ETFs from 3X to 2X. Furthermore, it closed eight others. Despite these changes, the firm still attracted nearly $4 billion in inflows that month.
TNA Stock Price Today and Other Statistics
If you were wondering about the stock price of TNA and other statistics before getting this information, remember that it’s subject to daily change.
So, for the newest information regarding live TNA stock, it’s always advisable to go to the official websites for live financial information.
As of the most recent update, TNA stock is priced at $40.28, with a 52-week range between $21.58 and $51.14. The stock has a market capitalisation of $1.91 billion and net assets totalling $3.14 billion. The PE ratio (TTM) stands at 15.78, indicating its valuation relative to earnings. The expense ratio is 1.08%, and the beta (5Y Monthly) is 3.18, reflecting the stock’s volatility. For those interested in TNA stock dividend information, it’s important to note that the YTD daily total return is 6.26%, offering a yield of 0.86%. And here are the rest of the metrics:
Previous Close: $41.71
Open: $41.54
NAV: $41.71
Bid: —
Ask: —
Day’s Range: $39.87 – $41.57
Avg. Volume: 20,446,954
TNA/USD 5-Day Chart
TNA Stock Forecast – What to Expect From this Stock?
If you were wondering about the TNA holdings price prediction and general forecast, the long-term moving average surpasses the short-term average. It indicated a bearish trend for the ETF.
This particular situation suggests a negative outlook for the stock. Should the ETF experience further increase, it will likely face resistance at the long-term Moving Average of $40.89.
Final Thoughts
Investing in TNA stock offers both potential rewards and significant risks, given its leveraged nature and recent bearish trend. While it can provide substantial gains, the volatility associated with TNA requires careful consideration and a clear understanding of your investment strategy. Staying informed and cautious is key when dealing with such a high-risk, high-reward opportunity.
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