Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sees Large Drop in Short Interest

by · The Markets Daily

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL – Get Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 404,259 shares, a decrease of 41.0% from the June 30th total of 684,950 shares. Based on an average daily volume of 828,983 shares, the short-interest ratio is presently 0.5 days. Currently, 1.4% of the company’s stock are sold short.

Direxion Daily Technology Bull 3X Shares Stock Performance

Shares of Direxion Daily Technology Bull 3X Shares stock traded down $0.90 during trading hours on Friday, reaching $173.55. The company’s stock had a trading volume of 788,445 shares, compared to its average volume of 1,308,290. The company has a market capitalization of $5.08 billion, a P/E ratio of 36.87 and a beta of 4.11. Direxion Daily Technology Bull 3X Shares has a one year low of $75.16 and a one year high of $275.40. The stock’s fifty day simple moving average is $208.93 and its two-hundred day simple moving average is $152.35.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

Institutional investors have recently bought and sold shares of the company. IMC Chicago LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $6,550,000. Stonebridge Financial Group LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $1,126,000. Ogborne Capital Management LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $2,937,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 1st quarter valued at $346,000. Finally, PNC Financial Services Group Inc. raised its holdings in Direxion Daily Technology Bull 3X Shares by 14.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after acquiring an additional 8,000 shares during the period.

Direxion Daily Technology Bull 3X Shares Company Profile

(Get Free Report)

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.

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