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 $203.43, but opened at $194.20. Direxion Daily Technology Bull 3X Shares shares last traded at $193.97, with a volume of 128,018 shares.

Direxion Daily Technology Bull 3X Shares Trading Down 0.1%

The stock’s fifty day moving average is $196.71 and its two-hundred day moving average is $166.74. The company has a market capitalization of $5.69 billion, a PE ratio of 36.87 and a beta of 4.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LP purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $232,000. LWM Advisors Inc. purchased a new position in Direxion Daily Technology Bull 3X Shares in the second quarter valued at approximately $254,000. Steadtrust LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the second quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at $76,000. Finally, Westmount Partners LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at $508,000.

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.