Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading 6% Higher – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price were up 6% on Wednesday . The company traded as high as $99.10 and last traded at $99.21. Approximately 286,044 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,202,121 shares. The stock had previously closed at $93.57.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $4.12 billion, a P/E ratio of 50.15 and a beta of 4.03. The firm has a 50 day moving average price of $94.24 and a 200-day moving average price of $88.89.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the company. Oxinas Partners Wealth Management LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 22.0% in the 4th quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock valued at $2,110,000 after buying an additional 4,205 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $275,000. Rovin Capital UT ADV increased its position in Direxion Daily Technology Bull 3X Shares by 2.6% during the fourth quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock worth $1,096,000 after acquiring an additional 306 shares during the period. Barclays PLC raised its stake in Direxion Daily Technology Bull 3X Shares by 28.9% during the 3rd quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock valued at $643,000 after purchasing an additional 1,645 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 2.1% in the 3rd quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock valued at $4,586,000 after purchasing an additional 1,066 shares during the period.

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.