Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Shares Gap Down – Here’s Why

Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $211.68, but opened at $198.19. Direxion Daily Technology Bull 3X ETF shares last traded at $198.6660, with a volume of 453,932 shares.

Direxion Daily Technology Bull 3X ETF Stock Down 9.2%

The firm has a 50-day moving average price of $214.27 and a two-hundred day moving average price of $193.36. The firm has a market cap of $5.34 billion, a PE ratio of 36.87 and a beta of 4.13.

Institutional Trading of Direxion Daily Technology Bull 3X ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily Technology Bull 3X ETF in the 3rd quarter valued at approximately $388,000. Toth Financial Advisory Corp purchased a new position in shares of Direxion Daily Technology Bull 3X ETF during the third quarter worth $25,000. Anchor Investment Management LLC purchased a new position in shares of Direxion Daily Technology Bull 3X ETF during the second quarter worth $98,000. Allworth Financial LP acquired a new stake in shares of Direxion Daily Technology Bull 3X ETF in the second quarter valued at $4,568,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter valued at $232,000.

Direxion Daily Technology Bull 3X ETF 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.