Micron Technology Inc. (NASDAQ: MU), a worldwide manufacturer and marketer of semiconductor devices, is continuing to rally in mid-day trading today. At last check, MU was trading 1.09% higher at $7.89 on volume of 14.48 million, which is more than half of the daily average volume of 25.17 million.
MU has had an excellent run for nearly month now. The stock had fallen sharply last month after the company reported disappointing first-quarter results. However, since then it has rebounded, finishing higher in each of the previous thirteen trading sessions. The stock has broken through some key technical levels as a result of the rally.
Direxion Daily Small Cap Bear 3X Shares (NYSEARCA: TZA) is marginally higher in mid-day trading today. At last check, TZA was trading 0.17% higher at $11.66 on volume of 595,038. The fund has fallen more than 3% this week.
TZA is an exchange traded fund. The fund seeks daily investment results of 300% of the inverse of the price performance of the Russell 2000 Index, which measures the performance of the small cap segment of the U.S. equity market and includes the smallest 2,000 companies in the Russell 3000 Index. In the last one year, TZA has fallen more than 48%. The fund has slipped as small cap stocks have rallied in the last one year.
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SOURCE Investor Alley, Inc.