Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Share Price Cross Below 200 Day Moving Average – Should You Sell?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $118.94 and traded as low as $100.90. Direxion Daily Technology Bull 3X Shares shares last traded at $102.33, with a volume of 1,238,339 shares trading hands.

Direxion Daily Technology Bull 3X Shares Price Performance

The stock’s 50 day moving average price is $111.32 and its two-hundred day moving average price is $118.69. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC grew its position in shares of Direxion Daily Technology Bull 3X Shares by 1,035.9% in the fourth quarter. Virtu Financial LLC now owns 28,660 shares of the exchange traded fund’s stock valued at $3,367,000 after purchasing an additional 26,137 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 154.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,006 shares of the exchange traded fund’s stock worth $706,000 after purchasing an additional 3,650 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 2.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,245 shares of the exchange traded fund’s stock valued at $616,000 after acquiring an additional 130 shares during the period. Onyx Bridge Wealth Group LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 7.1% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 2,500 shares of the exchange traded fund’s stock valued at $294,000 after purchasing an additional 165 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $4,947,000.

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.