Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Reaches New 1-Year Low – What’s Next?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) reached a new 52-week low during trading on Monday . The stock traded as low as $53.59 and last traded at $55.49, with a volume of 535502 shares. The stock had previously closed at $58.43.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $2.11 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56. The company’s 50 day moving average price is $80.50 and its 200 day moving average price is $87.64.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a $0.2088 dividend. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Millington Financial Advisors LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 7.4% in the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock worth $252,000 after acquiring an additional 212 shares during the period. TRUE Private Wealth Advisors increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 1.6% in the fourth quarter. TRUE Private Wealth Advisors now owns 17,776 shares of the exchange traded fund’s stock worth $1,610,000 after purchasing an additional 272 shares during the period. Rovin Capital UT ADV increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 2.6% in the fourth quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock worth $1,096,000 after purchasing an additional 306 shares during the period. LPL Financial LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 6.3% during the 4th quarter. LPL Financial LLC now owns 5,699 shares of the exchange traded fund’s stock worth $516,000 after purchasing an additional 340 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $41,000.

About Direxion Daily Technology Bull 3X Shares

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.