Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 7.3% – Here’s What Happened

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) fell 7.3% during trading on Monday . The stock traded as low as $180.57 and last traded at $180.57. 250,213 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,230,971 shares. The stock had previously closed at $194.81.

Direxion Daily Technology Bull 3X Shares Trading Up 2.8%

The business’s 50-day simple moving average is $199.72 and its two-hundred day simple moving average is $162.83. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 36.87 and a beta of 4.13.

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

Several large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 buying an additional 300 shares during the period. Jump Financial LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $1,963,000. Raymond James Financial Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $94,000. Modern Wealth Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth about $2,279,000. Finally, Two Sigma Securities LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth about $872,000.

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.