Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 10.2% – Should You Sell?
by Mitch Edgeman · The Markets DailyShares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL – Get Free Report) dropped 10.2% on Friday . The stock traded as low as $225.79 and last traded at $227.26. Approximately 414,014 shares traded hands during trading, a decline of 70% from the average daily volume of 1,395,799 shares. The stock had previously closed at $253.01.
Direxion Daily Technology Bull 3X Shares Price Performance
The company has a fifty day moving average of $159.23 and a two-hundred day moving average of $129.79. The stock has a market capitalization of $7.00 billion, a P/E ratio of 36.87 and a beta of 4.12.
Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gotham Asset Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth approximately $14,636,000. PNC Financial Services Group Inc. increased its position in Direxion Daily Technology Bull 3X Shares by 14.5% in the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock worth $5,454,000 after buying an additional 8,000 shares during the period. IMC Chicago LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $6,550,000. Mariner LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 5.3% in the fourth quarter. Mariner LLC now owns 45,805 shares of the exchange traded fund’s stock valued at $5,382,000 after buying an additional 2,295 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $4,947,000.
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.