Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 5.8% – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price were down 5.8% on Tuesday . The company traded as low as $113.44 and last traded at $114.9410. Approximately 804,515 shares traded hands during trading, a decline of 48% from the average daily volume of 1,556,157 shares. The stock had previously closed at $122.08.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. The firm’s 50 day moving average is $128.37 and its 200-day moving average is $103.57.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of Direxion Daily Technology Bull 3X Shares by 1.6% in the 3rd quarter. Barclays PLC now owns 6,250 shares of the exchange traded fund’s stock valued at $777,000 after acquiring an additional 100 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 21,031 shares of the exchange traded fund’s stock valued at $2,616,000 after purchasing an additional 192 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Direxion Daily Technology Bull 3X Shares by 99.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock valued at $56,000 after purchasing an additional 300 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter worth $43,000. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Direxion Daily Technology Bull 3X Shares by 12.3% in the second quarter. J.W. Cole Advisors Inc. now owns 3,968 shares of the exchange traded fund’s stock worth $371,000 after buying an additional 434 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.