Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Short Interest Update

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 404,259 shares, a drop of 41.0% from the June 30th total of 684,950 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 828,983 shares, the days-to-cover ratio is presently 0.5 days.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TECL. IMC Chicago LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $6,550,000. Stonebridge Financial Group LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $1,126,000. Ogborne Capital Management LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth $2,937,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 1st quarter worth $346,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Direxion Daily Technology Bull 3X Shares by 14.5% during the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock worth $5,454,000 after buying an additional 8,000 shares in the last quarter.

Direxion Daily Technology Bull 3X Shares Trading Down 0.5%

TECL stock opened at $173.55 on Friday. Direxion Daily Technology Bull 3X Shares has a 12-month low of $75.16 and a 12-month high of $275.40. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 36.87 and a beta of 4.11. The business’s 50-day moving average is $208.24 and its 200 day moving average is $152.50.

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.