Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Up 6.4% – Time to Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares were up 6.4% during mid-day trading on Tuesday . The stock traded as high as $87.95 and last traded at $88.32. Approximately 955,925 shares were traded during trading, a decline of 29% from the average daily volume of 1,354,146 shares. The stock had previously closed at $82.98.

Direxion Daily Technology Bull 3X Shares Stock Up 7.7 %

The firm has a fifty day moving average of $94.40 and a 200-day moving average of $88.45. The firm has a market cap of $3.79 billion, a P/E ratio of 50.15 and a beta of 4.03.

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

Several large investors have recently bought and sold shares of TECL. Farther Finance Advisors LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 4,000.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after acquiring an additional 920 shares during the period. Socha Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the third quarter worth $243,000. Merit Financial Group LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $275,000. Mercer Global Advisors Inc. ADV acquired a new position in Direxion Daily Technology Bull 3X Shares in the second quarter valued at about $338,000. Finally, Plotkin Financial Advisors LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the third quarter valued at about $451,000.

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.