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 before the market opened on Thursday . The stock had previously closed at $74.11, but opened at $69.56. Direxion Daily Technology Bull 3X Shares shares last traded at $71.67, with a volume of 233,679 shares changing hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a fifty day simple moving average of $88.79 and a two-hundred day simple moving average of $89.21. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 38.49 and a beta of 3.51.

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

Large investors have recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at about $41,000. Farther Finance Advisors LLC increased its position 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 valued at $83,000 after buying an additional 920 shares in the last quarter. Kane Investment Management Inc. acquired a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $205,000. GFG Capital LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth approximately $216,000. Finally, Merit Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $275,000.

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.