Traynor Capital Management Inc. Reduces Stake in Direxion Daily Technology Bull 3X Shares $TECL

Traynor Capital Management Inc. trimmed its position in shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,701 shares of the exchange traded fund’s stock after selling 11,655 shares during the quarter. Direxion Daily Technology Bull 3X Shares makes up 0.7% of Traynor Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Traynor Capital Management Inc. owned 0.29% of Direxion Daily Technology Bull 3X Shares worth $11,902,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TECL. Northwestern Mutual Wealth Management Co. grew its stake in Direxion Daily Technology Bull 3X Shares by 99.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock valued at $56,000 after acquiring an additional 300 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $43,000. J.W. Cole Advisors Inc. boosted its position in Direxion Daily Technology Bull 3X Shares by 12.3% during the second quarter. J.W. Cole Advisors Inc. now owns 3,968 shares of the exchange traded fund’s stock worth $371,000 after acquiring an additional 434 shares during the last quarter. Socha Financial Group LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 21.8% in the 3rd quarter. Socha Financial Group LLC now owns 2,833 shares of the exchange traded fund’s stock valued at $352,000 after acquiring an additional 508 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth $53,000.

Direxion Daily Technology Bull 3X Shares Price Performance

Shares of TECL opened at $129.00 on Thursday. Direxion Daily Technology Bull 3X Shares has a 12 month low of $32.52 and a 12 month high of $155.50. The stock has a market cap of $4.33 billion, a PE ratio of 36.87 and a beta of 3.66. The stock’s 50-day moving average is $121.26 and its two-hundred day moving average is $118.12.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a $8.0376 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $32.15 annualized dividend and a yield of 24.9%.

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.