Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Still a Buy?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped up before the market opened on Tuesday . The stock had previously closed at $39.56, but opened at $44.08. Direxion Daily Technology Bull 3X Shares shares last traded at $44.69, with a volume of 502,256 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Down 13.5 %

The firm’s fifty day simple moving average is $71.14 and its two-hundred day simple moving average is $84.97. The company has a market capitalization of $1.70 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 disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a $0.2088 dividend. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 28.9% in the 3rd quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock valued at $643,000 after purchasing an additional 1,645 shares during the last quarter. Rovin Capital UT ADV boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 2.6% during the fourth quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock worth $1,096,000 after buying an additional 306 shares during the period. Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $275,000. Oxinas Partners Wealth Management LLC grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 22.0% in the fourth quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock valued at $2,110,000 after buying an additional 4,205 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $216,000.

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.