Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped down before the market opened on Monday . The stock had previously closed at $76.04, but opened at $72.59. Direxion Daily Technology Bull 3X Shares shares last traded at $74.73, with a volume of 451,761 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Down 0.3%

The company has a market capitalization of $3.01 billion, a PE ratio of 36.41 and a beta of 3.66. The business’s 50-day simple moving average is $56.68 and its 200-day simple moving average is $78.89.

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 TECL. Merit Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $275,000. Oxinas Partners Wealth Management LLC grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 22.0% during the 4th quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock worth $2,110,000 after purchasing an additional 4,205 shares during the period. GFG Capital LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $216,000. Millington Financial Advisors LLC grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 7.4% during the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 212 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $21,703,000.

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.