Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 2.8% – What’s Next?

Posted by Scott Moore on Nov 27th, 2024

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL – Get Free Report) fell 2.8% on Wednesday . The company traded as low as $91.65 and last traded at $92.34. 181,754 shares traded hands during trading, a decline of 90% from the average session volume of 1,843,820 shares. The stock had previously closed at $94.99.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The business has a fifty day simple moving average of $89.97 and a 200-day simple moving average of $87.76.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Sollinda Capital Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at about $20,933,000. EP Wealth Advisors LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 2.1% in the third quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock valued at $4,586,000 after acquiring an additional 1,066 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at approximately $3,956,000. Axxcess Wealth Management LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $3,473,000. Finally, Virtu Financial LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 577.2% in the 2nd quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock worth $2,644,000 after purchasing an additional 23,140 shares during the period.

Direxion Daily Technology Bull 3X Shares Company Profile

(Get Free Report)

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.