Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) Reaches New 12-Month High – Still a Buy?

Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT)’s share price reached a new 52-week high during trading on Friday. The stock traded as high as $43.76 and last traded at $43.7950, with a volume of 6245 shares changing hands. The stock had previously closed at $42.90.

Direxion HCM Tactical Enhanced U.S. ETF Price Performance

The firm has a fifty day simple moving average of $41.15 and a two-hundred day simple moving average of $39.60. The firm has a market capitalization of $634.08 million, a P/E ratio of 21.26 and a beta of 1.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Discipline Wealth Solutions LLC increased its holdings in Direxion HCM Tactical Enhanced U.S. ETF by 301.7% in the 1st quarter. Discipline Wealth Solutions LLC now owns 1,057,983 shares of the company’s stock worth $37,230,000 after acquiring an additional 794,616 shares during the last quarter. Wealth Watch Advisors INC lifted its holdings in Direxion HCM Tactical Enhanced U.S. ETF by 8.5% during the first quarter. Wealth Watch Advisors INC now owns 392,248 shares of the company’s stock valued at $13,803,000 after purchasing an additional 30,783 shares during the last quarter. NewEdge Advisors LLC boosted its position in Direxion HCM Tactical Enhanced U.S. ETF by 13.6% during the second quarter. NewEdge Advisors LLC now owns 265,483 shares of the company’s stock worth $11,134,000 after purchasing an additional 31,837 shares during the period. Envestnet Asset Management Inc. boosted its position in Direxion HCM Tactical Enhanced U.S. ETF by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 197,544 shares of the company’s stock worth $8,285,000 after purchasing an additional 2,414 shares during the period. Finally, Aegis Wealth Management Inc. increased its stake in shares of Direxion HCM Tactical Enhanced U.S. ETF by 1.0% in the first quarter. Aegis Wealth Management Inc. now owns 65,734 shares of the company’s stock worth $2,313,000 after purchasing an additional 659 shares in the last quarter.

About Direxion HCM Tactical Enhanced U.S. ETF

The Direxion HCM Tactical Enhanced US ETF (HCMT) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund-of-funds that toggles between a 200% leveraged US equity position and a 100% investment to cash or cash equivalents based on a proprietary tactical indicator that identifies broad trends in the US equity markets. HCMT was launched on Jun 22, 2023 and is managed by Direxion.