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 prior to trading on Thursday . The stock had previously closed at $51.83, but opened at $46.67. Direxion Daily Technology Bull 3X Shares shares last traded at $45.76, with a volume of 881,005 shares.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a market cap of $1.79 billion, a PE ratio of 28.55 and a beta of 3.56. The firm has a 50-day simple moving average of $70.37 and a 200 day simple moving average of $84.70.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a dividend of $0.2088 per share. The ex-dividend date was Tuesday, March 25th.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oxinas Partners Wealth Management LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 27.0% during the first quarter. Oxinas Partners Wealth Management LLC now owns 29,599 shares of the exchange traded fund’s stock valued at $1,733,000 after buying an additional 6,295 shares during the last quarter. Triton Wealth Management PLLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 34.1% in the 4th quarter. Triton Wealth Management PLLC now owns 15,881 shares of the exchange traded fund’s stock worth $1,501,000 after purchasing an additional 4,040 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $41,000. Blue Sky Capital Consultants Group Inc. purchased a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $1,518,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in Direxion Daily Technology Bull 3X Shares by 70.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,946 shares of the exchange traded fund’s stock valued at $538,000 after purchasing an additional 2,466 shares in the last quarter.

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.