Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s Why

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped up before the market opened on Tuesday . The stock had previously closed at $177.86, but opened at $189.05. Direxion Daily Technology Bull 3X Shares shares last traded at $188.11, with a volume of 103,440 shares traded.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market cap of $5.55 billion, a P/E ratio of 36.87 and a beta of 4.11. The company’s 50 day moving average is $212.01 and its 200 day moving average is $149.21.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECL. Steadtrust LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth about $36,000. BankPlus Trust Department bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $47,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 99.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after purchasing an additional 300 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares in the second quarter valued at $76,000. Finally, Kestra Advisory Services LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $88,000.

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.