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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Thursday . The stock had previously closed at $66.50, but opened at $64.04. Direxion Daily Technology Bull 3X Shares shares last traded at $65.81, with a volume of 231,134 shares.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market capitalization of $2.30 billion, a P/E ratio of 31.33 and a beta of 3.56. The business has a fifty day moving average of $83.67 and a 200-day moving average of $87.90.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Several institutional investors have recently bought and sold shares of TECL. Park Square Financial Group LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $41,000. Kane Investment Management Inc. purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $205,000. GFG Capital LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $216,000. Millington Financial Advisors LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in the fourth quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 212 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth approximately $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.