Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Cross Above 200 Day Moving Average – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm’s 50-day simple moving average is $94.65 and its 200 day simple moving average is $89.59. The company has a market cap of $3.90 billion, a P/E ratio of 50.15 and a beta of 4.03.

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

Several institutional investors have recently modified their holdings of TECL. Sollinda Capital Management LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the third quarter worth about $20,933,000. Squarepoint Ops LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at about $3,956,000. Axxcess Wealth Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at approximately $3,473,000. Virtu Financial LLC increased its stake in Direxion Daily Technology Bull 3X Shares by 577.2% during the 2nd quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock worth $2,644,000 after purchasing an additional 23,140 shares in the last quarter. Finally, Triton Wealth Management PLLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $960,000.

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.