Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Shares Gap Up – What’s Next?

Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $139.25, but opened at $151.01. Direxion Daily Technology Bull 3X ETF shares last traded at $151.3410, with a volume of 214,290 shares.

Direxion Daily Technology Bull 3X ETF Stock Performance

The firm’s 50-day simple moving average is $204.71 and its 200 day simple moving average is $171.97. The stock has a market capitalization of $4.52 billion, a P/E ratio of 36.87 and a beta of 4.18.

Institutional Trading of Direxion Daily Technology Bull 3X ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Steadtrust LLC acquired a new position in Direxion Daily Technology Bull 3X ETF during the second quarter valued at approximately $36,000. Allworth Financial LP bought a new position in Direxion Daily Technology Bull 3X ETF in the second quarter valued at approximately $4,568,000. PNC Financial Services Group Inc. grew its stake in Direxion Daily Technology Bull 3X ETF by 14.5% in the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after purchasing an additional 8,000 shares in the last quarter. LWM Advisors Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the 2nd quarter worth approximately $254,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the 3rd quarter worth approximately $388,000.

About Direxion Daily Technology Bull 3X ETF

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.