Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up before the market opened on Monday . The stock had previously closed at $65.40, but opened at $68.60. Direxion Daily Technology Bull 3X Shares shares last traded at $68.72, with a volume of 247,873 shares.

Direxion Daily Technology Bull 3X Shares Trading Up 0.7 %

The firm has a market capitalization of $2.45 billion, a P/E ratio of 31.33 and a beta of 3.56. The stock has a 50-day simple moving average of $82.13 and a two-hundred day simple moving average of $87.86.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.2088 dividend. The ex-dividend date is Tuesday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TECL. Park Square Financial Group LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $41,000. Kane Investment Management Inc. bought a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth about $205,000. GFG Capital LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at about $216,000. Millington Financial Advisors LLC boosted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after buying an additional 212 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth 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.