Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $89.59 and traded as high as $92.54. Direxion Daily Technology Bull 3X Shares shares last traded at $91.88, with a volume of 1,483,905 shares.

Direxion Daily Technology Bull 3X Shares Trading Down 0.1 %

The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The company has a 50 day simple moving average of $94.65 and a 200-day simple moving average of $89.59.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in TECL. PFG Investments LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at approximately $253,000. Headlands Technologies LLC raised its stake in shares of Direxion Daily Technology Bull 3X Shares by 169.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock worth $236,000 after purchasing an additional 1,526 shares in the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 27.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 15,094 shares of the exchange traded fund’s stock valued at $1,470,000 after buying an additional 3,257 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 577.2% in the second quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock valued at $2,644,000 after buying an additional 23,140 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth $338,000.

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.