Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 7.5% – Time to Sell?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) were down 7.5% during trading on Wednesday . The company traded as low as $64.10 and last traded at $64.30. Approximately 1,030,130 shares were traded during trading, a decline of 35% from the average daily volume of 1,578,172 shares. The stock had previously closed at $69.52.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a market capitalization of $2.06 billion, a PE ratio of 31.33 and a beta of 3.56. The stock’s 50 day moving average is $80.50 and its two-hundred day moving average is $87.46.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.2088 dividend. The ex-dividend date of this dividend is Tuesday, March 25th.

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

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $21,703,000. Tower Research Capital LLC TRC grew its holdings in 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 valued at $2,848,000 after buying an additional 31,087 shares in the last quarter. Mariner LLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 384.1% in the 4th quarter. Mariner LLC now owns 29,288 shares of the exchange traded fund’s stock worth $2,652,000 after acquiring an additional 23,238 shares during the last quarter. Birchview Capital LP acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $1,630,000. Finally, Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth $1,518,000.

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.