Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped down before the market opened on Monday . The stock had previously closed at $76.04, but opened at $72.59. Direxion Daily Technology Bull 3X Shares shares last traded at $74.73, with a volume of 451,761 shares trading hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 36.41 and a beta of 3.66. The stock’s fifty day moving average is $56.68 and its two-hundred day moving average is $78.89.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $41,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the first quarter worth about $35,000. Creative Financial Designs Inc. ADV bought a new position in Direxion Daily Technology Bull 3X Shares during the 1st quarter worth about $45,000. Kane Investment Management Inc. bought a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth about $205,000. Finally, GFG Capital LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $216,000.

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.