Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up to $85.27

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up prior to trading on Thursday . The stock had previously closed at $85.27, but opened at $88.00. Direxion Daily Technology Bull 3X Shares shares last traded at $85.83, with a volume of 750,815 shares.

Direxion Daily Technology Bull 3X Shares Trading Down 1.1 %

The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The company has a fifty day moving average price of $75.62 and a two-hundred day moving average price of $70.80.

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

Several large investors have recently made changes to their positions in the stock. Ogborne Capital Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $1,668,000. Bank of Nova Scotia purchased a new position in Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at approximately $861,000. Main Street Financial Solutions LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $1,275,000. EP Wealth Advisors LLC increased its position in shares of Direxion Daily Technology Bull 3X Shares by 61.9% during the third quarter. EP Wealth Advisors LLC now owns 43,570 shares of the exchange traded fund’s stock worth $1,877,000 after acquiring an additional 16,653 shares during the period. Finally, Group One Trading L.P. increased its holdings in Direxion Daily Technology Bull 3X Shares by 98.7% during the 3rd quarter. Group One Trading L.P. now owns 33,112 shares of the exchange traded fund’s stock worth $1,427,000 after purchasing an additional 16,445 shares during the period.

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.