Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Hits New 1-Year Low – Should You Sell?

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

Direxion Daily Technology Bull 3X Shares Trading Down 4.6 %

The company has a fifty day simple moving average of $80.50 and a 200-day simple moving average of $87.64. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

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

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

A number of large investors have recently made changes to their positions in the business. Triton Wealth Management PLLC grew its holdings in shares of Direxion Daily Technology Bull 3X Shares by 34.1% during the 4th quarter. Triton Wealth Management PLLC now owns 15,881 shares of the exchange traded fund’s stock valued at $1,501,000 after acquiring an additional 4,040 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $41,000. Blue Sky Capital Consultants Group Inc. purchased a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $1,518,000. Mercer Global Advisors Inc. ADV increased its position in Direxion Daily Technology Bull 3X Shares by 70.9% in the 4th 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 during the last quarter. Finally, Birchview Capital LP purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth about $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.