Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up to $85.27

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $85.27, but opened at $88.00. Direxion Daily Technology Bull 3X Shares shares last traded at $85.83, with a volume of 750,815 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Up 2.2 %

The firm has a market cap of $3.61 billion, a P/E ratio of 50.15 and a beta of 4.03. The firm’s 50 day moving average is $75.82 and its two-hundred day moving average is $71.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECL. Ogborne Capital Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $1,668,000. Bank of Nova Scotia bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the third quarter worth about $861,000. Main Street Financial Solutions LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $1,275,000. EP Wealth Advisors LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 61.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 43,570 shares of the exchange traded fund’s stock valued at $1,877,000 after acquiring an additional 16,653 shares in the last quarter. Finally, Group One Trading L.P. grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 98.7% during the 3rd quarter. Group One Trading L.P. now owns 33,112 shares of the exchange traded fund’s stock worth $1,427,000 after acquiring an additional 16,445 shares in the last quarter.

Direxion Daily Technology Bull 3X Shares Company Profile

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.