Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sets New 1-Year High – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $156.26 and last traded at $155.87, with a volume of 220341 shares. The stock had previously closed at $152.66.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm’s 50-day moving average is $109.52 and its 200 day moving average is $117.88. The stock has a market cap of $5.33 billion, a PE ratio of 36.87 and a beta of 3.96.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in TECL. BankPlus Trust Department purchased a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $47,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 99.7% in the 2nd 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 last quarter. Kestra Advisory Services LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $88,000. Wealth Watch Advisors INC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at approximately $117,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at approximately $94,000.

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.