Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Down 10.9% – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price fell 10.9% during trading on Tuesday . The company traded as low as $178.48 and last traded at $178.86. 1,158,001 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 1,436,356 shares. The stock had previously closed at $200.70.

Direxion Daily Technology Bull 3X Shares Stock Up 4.4%

The stock has a 50 day simple moving average of $121.83 and a 200 day simple moving average of $120.89. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 36.87 and a beta of 3.96.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Hedge funds have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $1,126,000. X Square Capital LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $2,550,000. IMC Chicago LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $6,550,000. Flow Traders U.S. LLC grew its stake in Direxion Daily Technology Bull 3X Shares by 102.6% in the third quarter. Flow Traders U.S. LLC now owns 35,840 shares of the exchange traded fund’s stock valued at $4,457,000 after acquiring an additional 18,150 shares during the period. Finally, Stratos Wealth Advisors LLC grew its stake in Direxion Daily Technology Bull 3X Shares by 11.0% in the fourth quarter. Stratos Wealth Advisors LLC now owns 23,348 shares of the exchange traded fund’s stock valued at $2,743,000 after acquiring an additional 2,317 shares during the period.

Direxion Daily Technology Bull 3X Shares 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.