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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Tuesday . The stock had previously closed at $218.90, but opened at $204.98. Direxion Daily Technology Bull 3X Shares shares last traded at $204.02, with a volume of 216,050 shares.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm’s fifty day simple moving average is $202.05 and its 200 day simple moving average is $159.58. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 36.87 and a beta of 4.13.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LWM Advisors Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $254,000. Steadtrust LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $76,000. Westmount Partners LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $508,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $223,000.

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.