Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 2.8% – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) dropped 2.8% on Wednesday . The stock traded as low as $91.65 and last traded at $92.34. Approximately 181,754 shares were traded during trading, a decline of 90% from the average daily volume of 1,843,820 shares. The stock had previously closed at $94.99.

Direxion Daily Technology Bull 3X Shares Trading Down 4.1 %

The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The business has a 50 day simple moving average of $90.24 and a 200-day simple moving average of $87.78.

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

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Direxion Daily Technology Bull 3X Shares by 4,000.0% during the third quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after purchasing an additional 920 shares during the last quarter. Valmark Advisers Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth $201,000. Onyx Bridge Wealth Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth $226,000. Headlands Technologies LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 169.4% in the second quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after acquiring an additional 1,526 shares during the last quarter. Finally, PFG Investments LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares during the second quarter valued at about $253,000.

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.