Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 6.3%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price fell 6.3% during mid-day trading on Friday . The company traded as low as $61.82 and last traded at $62.38. 4,324,685 shares traded hands during trading, an increase of 87% from the average session volume of 2,309,432 shares. The stock had previously closed at $66.56.

Direxion Daily Technology Bull 3X Shares Stock Performance

The business’s 50-day moving average is $77.86 and its 200-day moving average is $66.14. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 55.13 and a beta of 3.95.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 100.0% in the 4th quarter. Signaturefd LLC now owns 500 shares of the exchange traded fund’s stock valued at $33,000 after purchasing an additional 250 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $33,000. Captrust Financial Advisors boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 878.0% in the 1st quarter. Captrust Financial Advisors now owns 978 shares of the exchange traded fund’s stock valued at $60,000 after purchasing an additional 878 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 1st quarter valued at about $66,000. Finally, Main Street Group LTD bought a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $93,000.

About Direxion Daily Technology Bull 3X Shares

The Direxion Daily Technology Bull 3X Shares (TECL) is an exchange-traded fund that is based on the Technology Select Sector index. The fund provides 3x leveraged exposure to a market-cap weighted index of US large-cap technology companies. TECL was launched on Dec 17, 2008 and is managed by Direxion.