Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 15.4% – What’s Next?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) traded down 15.4% during trading on Thursday . The company traded as low as $51.59 and last traded at $51.60. 627,131 shares traded hands during trading, a decline of 60% from the average session volume of 1,583,345 shares. The stock had previously closed at $60.99.

Direxion Daily Technology Bull 3X Shares Trading Down 18.1 %

The stock has a market capitalization of $1.89 billion, a PE ratio of 28.55 and a beta of 3.56. The firm has a 50 day moving average price of $78.39 and a 200 day moving average price of $87.14.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.2088 per share. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECL. SBI Securities Co. Ltd. purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth $21,703,000. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 8,493.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,453 shares of the exchange traded fund’s stock worth $2,848,000 after purchasing an additional 31,087 shares during the period. Mariner LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 384.1% during the fourth quarter. Mariner LLC now owns 29,288 shares of the exchange traded fund’s stock valued at $2,652,000 after purchasing an additional 23,238 shares in the last quarter. Birchview Capital LP purchased a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $1,630,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at about $1,518,000.

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.