Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 2.8% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price were down 2.8% during trading on Wednesday . The company traded as low as $91.65 and last traded at $92.34. Approximately 181,754 shares were traded during trading, a decline of 90% from the average daily volume of 1,843,820 shares. The stock had previously closed at $94.99.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $3.81 billion, a P/E ratio of 50.15 and a beta of 4.03. The company has a fifty day moving average price of $89.97 and a two-hundred day moving average price of $87.76.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 4,000.0% in the third quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock valued at $83,000 after purchasing an additional 920 shares in the last quarter. Valmark Advisers Inc. acquired a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth about $201,000. Onyx Bridge Wealth Group LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth about $226,000. Headlands Technologies LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 169.4% in the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after purchasing an additional 1,526 shares in the last quarter. Finally, Socha Financial Group LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $243,000.

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.