Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped down prior to trading on Thursday . The stock had previously closed at $66.50, but opened at $64.04. Direxion Daily Technology Bull 3X Shares shares last traded at $65.81, with a volume of 231,134 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Down 1.8 %

The stock’s 50 day simple moving average is $83.67 and its 200 day simple moving average is $87.90. The stock has a market capitalization of $2.30 billion, a P/E ratio of 31.33 and a beta of 3.56.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of TECL. Larson Financial Group LLC boosted its stake in Direxion Daily Technology Bull 3X Shares by 1,753.3% in the third quarter. Larson Financial Group LLC now owns 6,746 shares of the exchange traded fund’s stock valued at $591,000 after acquiring an additional 6,382 shares during the period. Plotkin Financial Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the third quarter valued at $451,000. EP Wealth Advisors LLC grew its position in shares of Direxion Daily Technology Bull 3X Shares by 2.1% during the third quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock worth $4,586,000 after acquiring an additional 1,066 shares during the last quarter. Barclays PLC grew its position in shares of Direxion Daily Technology Bull 3X Shares by 28.9% during the third quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock worth $643,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Rovin Capital UT ADV increased its holdings in shares of Direxion Daily Technology Bull 3X Shares by 2.6% in the 4th quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock worth $1,096,000 after acquiring an additional 306 shares during the period.

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.