Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Reaches New 12-Month Low – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $32.52 and last traded at $32.98, with a volume of 1035498 shares changing hands. The stock had previously closed at $39.05.

Direxion Daily Technology Bull 3X Shares Stock Performance

The business’s 50 day moving average is $76.20 and its 200 day moving average is $86.69. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.2088 per share. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

A number of large investors have recently bought and sold shares of the company. Triton Wealth Management PLLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 34.1% in the fourth quarter. Triton Wealth Management PLLC now owns 15,881 shares of the exchange traded fund’s stock worth $1,501,000 after buying an additional 4,040 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $41,000. Blue Sky Capital Consultants Group Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $1,518,000. Mercer Global Advisors Inc. ADV increased its position in shares of Direxion Daily Technology Bull 3X Shares by 70.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,946 shares of the exchange traded fund’s stock worth $538,000 after purchasing an additional 2,466 shares in the last quarter. Finally, Birchview Capital LP purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $1,630,000.

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.