Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading 7.5% Higher – Time to Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price traded up 7.5% during trading on Wednesday . The stock traded as high as $40.06 and last traded at $40.12. 2,049,476 shares were traded during mid-day trading, an increase of 23% from the average session volume of 1,660,118 shares. The stock had previously closed at $37.33.

Direxion Daily Technology Bull 3X Shares Stock Up 38.1 %

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56. The company’s fifty day simple moving average is $73.29 and its two-hundred day simple moving average is $85.71.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently announced 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

Several large investors have recently modified their holdings of the business. Park Square Financial Group LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $41,000. Kane Investment Management Inc. bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $205,000. GFG Capital LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $216,000. Millington Financial Advisors LLC grew its holdings in shares of Direxion Daily Technology Bull 3X Shares by 7.4% during the fourth quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock worth $252,000 after buying an additional 212 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $275,000.

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.