Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL – Get Free Report) dropped 9.7% during mid-day trading on Tuesday . The stock traded as low as $75.01 and last traded at $75.21. Approximately 809,993 shares changed hands during trading, a decline of 62% from the average daily volume of 2,113,456 shares. The stock had previously closed at $83.27.
Direxion Daily Technology Bull 3X Shares Price Performance
The company has a market cap of $3.00 billion, a P/E ratio of 50.15 and a beta of 4.03. The business’s 50 day moving average price is $86.72 and its 200-day moving average price is $82.67.
Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares
Several hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth about $3,956,000. Ogborne Capital Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $1,668,000. Virtu Financial LLC grew its position in shares of Direxion Daily Technology Bull 3X Shares by 577.2% in the 2nd quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock valued at $2,644,000 after purchasing an additional 23,140 shares during the period. Main Street Financial Solutions LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $1,275,000. Finally, Trinity Legacy Partners LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $988,000.
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.
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