DRN Stock Summary and Trading Ideas (Direxion Daily Real Estate Bull 3X | ARCA:DRN)

The Direxion Daily Real Estate Bull (DRN) Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Real Estate Select Sector Index. There is no guarantee the funds will meet their stated investment objective.

Direxion Daily Real Estate Bull 3X trades on the ARCA stock market under the symbol DRN.

As of April 24, 2024, DRN stock price climbed to $7.71 with 1,310,626 million shares trading.

DRN has a beta of 3.57, meaning it tends to be more sensitive to market movements. DRN has a correlation of 0.57 to the broad based SPY ETF.

DRN has a market cap of $62.84 million. This is considered a Micro Cap stock.

In the last 3 years, DRN stock traded as high as $31.01 and as low as $5.54.

DRN has underperformed the market in the last year with a price return of -14.9% while the SPY ETF gained +24.2%. DRN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -18.1% and -19.5%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

DRN support price is $7.36 and resistance is $7.92 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DRN stock will trade within this expected range on the day.