Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 6.6% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) dropped 6.6% on Friday . The company traded as low as $194.40 and last traded at $196.82. 157,682 shares traded hands during trading, a decline of 89% from the average session volume of 1,394,401 shares. The stock had previously closed at $210.65.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $6.52 billion, a P/E ratio of 36.87 and a beta of 4.12. The stock has a 50-day moving average of $195.54 and a two-hundred day moving average of $139.89.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

A number of large investors have recently added to or reduced their stakes in TECL. Stonebridge Financial Group LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $1,126,000. IMC Chicago LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $6,550,000. Ogborne Capital Management LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $2,937,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the first quarter valued at approximately $346,000. Finally, Donalies Financial Planning LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $733,000.

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.