Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Monday . The stock had previously closed at $97.22, but opened at $84.56. Direxion Daily Technology Bull 3X Shares shares last traded at $86.63, with a volume of 944,777 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Up 7.7 %

The firm’s fifty day moving average price is $94.36 and its 200-day moving average price is $88.33. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03.

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

Large investors have recently modified their holdings of the business. Oxinas Partners Wealth Management LLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 22.0% during the fourth quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock worth $2,110,000 after acquiring an additional 4,205 shares during the period. Merit Financial Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $275,000. Rovin Capital UT ADV lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 2.6% in the fourth quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock valued at $1,096,000 after purchasing an additional 306 shares in the last quarter. Barclays PLC boosted 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 buying an additional 1,645 shares during the period. Finally, EP Wealth Advisors LLC raised its position in Direxion Daily Technology Bull 3X Shares by 2.1% in the 3rd quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock valued at $4,586,000 after buying an additional 1,066 shares during the last quarter.

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.