Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Here’s Why

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Friday . The stock had previously closed at $95.35, but opened at $91.43. Direxion Daily Technology Bull 3X Shares shares last traded at $90.88, with a volume of 292,795 shares changing hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $3.75 billion, a P/E ratio of 50.15 and a beta of 4.03. The stock has a 50 day moving average price of $87.89 and a 200 day moving average price of $86.63.

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

Large investors have recently made changes to their positions in the business. Stratos Wealth Advisors LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 0.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 24,764 shares of the exchange traded fund’s stock worth $2,168,000 after acquiring an additional 232 shares in the last quarter. Oxinas Partners Wealth Management LLC boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 3.3% in the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 19,099 shares of the exchange traded fund’s stock valued at $1,672,000 after purchasing an additional 607 shares during the period. Farther Finance Advisors LLC increased its stake in Direxion Daily Technology Bull 3X Shares by 4,000.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after purchasing an additional 920 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 2.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock worth $4,586,000 after buying an additional 1,066 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 169.4% during the second quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after buying an additional 1,526 shares in the last quarter.

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.