‘Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) Continues Impressive Run\n\nThe Direxion Daily Small Cap Bull 3X Shares has been on a remarkable streak, with a 44.10% increase over the past week and nearly 50% this month. This leveraged ETF looks to deliver triple the daily returns of the Russell 2000 Index, which has been lagging behind large-cap competitors. The recent market volatility, traders are showing enthusiasm for TNA, with April inflows of $35.28 million.\n\nThe Russell 2000 Index, along with other small-cap rivals, was hit hard during the coronavirus-induced market downturn in March. History suggests that the leveraged small-cap ETF and its underlying index could see further gains. According to an analysis from Bespoke Investment Group, the Russell 2000 Index has only had six consecutive days of gains of at least 1% once before, in January 2000. In 10 of the prior 11 instances, the index has gone on to post positive returns and outperform the S&P 500 Index over the next month.\n\nMomentum could be a key factor in driving further gains for TNA. While the broader universe of small caps can be considered a momentum play, the factor is particularly applicable here. The small-cap momentum index is made up of 58% healthcare and technology stocks, which represent 21.37% and 15.11%, respectively, of TNAs underlying index.\n\nWith another gain of about 14.30%, TNA would reclaim its 50-day moving average, potentially triggering an even larger rally. Some traders are betting against this small-cap rally, with nearly $398 million added to TNAs bearish counterpart, the Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA), since April 1. TZA has seen a decline of more than 48% since the beginning of the month.\n\n The Direxion Daily Small Cap Bull 3X Shares has been on an impressive run, outperforming its large-cap competitors and showing potential for further gains.’