Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Should You Sell?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down prior to trading on Monday . The stock had previously closed at $97.22, but opened at $84.56. Direxion Daily Technology Bull 3X Shares shares last traded at $86.63, with a volume of 944,777 shares.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a 50-day simple moving average of $94.52 and a 200 day simple moving average of $88.60. The firm has a market cap of $3.55 billion, a PE ratio of 50.15 and a beta of 4.03.

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

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 4,000.0% during 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 during the last quarter. Socha Financial Group LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter valued at $243,000. Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $275,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth $338,000. Finally, Plotkin Financial Advisors LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the third quarter valued at about $451,000.

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.