Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL – Get Free Report) dropped 17.3% during trading on Thursday. The company traded as low as $136.04 and last traded at $135.4350. Approximately 691,836 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 1,075,781 shares. The stock had previously closed at $163.69.
Direxion Daily Technology Bull 3X ETF Stock Down 20.3%
The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 36.87 and a beta of 4.18. The business’s fifty day moving average is $210.10 and its two-hundred day moving average is $171.61.
Hedge Funds Weigh In On Direxion Daily Technology Bull 3X ETF
Hedge funds and other institutional investors have recently bought and sold shares of the company. Steadtrust LLC acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the 2nd quarter worth approximately $36,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter valued at $4,568,000. PNC Financial Services Group Inc. grew its position in Direxion Daily Technology Bull 3X ETF by 14.5% during the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after acquiring an additional 8,000 shares during the period. LWM Advisors Inc. purchased a new position in Direxion Daily Technology Bull 3X ETF in the second quarter valued at approximately $254,000. Finally, Verus Capital Partners LLC purchased a new stake in Direxion Daily Technology Bull 3X ETF during the 3rd quarter worth $698,000.
About Direxion Daily Technology Bull 3X ETF
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.
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