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

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

Direxion Daily Technology Bull 3X Shares Trading Up 1.3 %

The firm has a market capitalization of $1.50 billion, a P/E ratio of 28.55 and a beta of 3.56. The firm has a 50 day moving average price of $76.20 and a 200-day moving average price of $86.69.

Direxion Daily Technology Bull 3X Shares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $41,000. Kane Investment Management Inc. bought a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth approximately $205,000. GFG Capital LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $216,000. Millington Financial Advisors LLC increased its holdings in shares of 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 valued at $252,000 after acquiring an additional 212 shares during the period. Finally, Merit Financial Group LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $275,000.

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.