Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Hits New 12-Month High – Should You Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $208.79 and last traded at $208.33, with a volume of 131330 shares traded. The stock had previously closed at $201.62.

Direxion Daily Technology Bull 3X Shares Stock Up 3.9%

The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 36.87 and a beta of 3.96. The company has a 50-day moving average price of $130.98 and a 200 day moving average price of $122.47.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several hedge funds and other institutional investors have recently modified their holdings of TECL. BankPlus Trust Department acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $47,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 99.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after buying an additional 300 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $88,000. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth $94,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the third quarter worth $117,000.

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.