Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up prior to trading on Monday . The stock had previously closed at $202.59, but opened at $218.45. Direxion Daily Technology Bull 3X Shares shares last traded at $217.76, with a volume of 318,829 shares changing hands.

Direxion Daily Technology Bull 3X Shares Trading Down 5.8%

The company has a 50 day moving average price of $166.39 and a 200-day moving average price of $131.65. The company has a market cap of $6.62 billion, a P/E ratio of 36.87 and a beta of 4.12.

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

Several hedge funds and other institutional investors have recently modified their holdings of the business. West Michigan Advisors LLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 2.0% in the 4th quarter. West Michigan Advisors LLC now owns 5,100 shares of the exchange traded fund’s stock valued at $599,000 after purchasing an additional 100 shares during the last quarter. Barclays PLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 1.6% in the 3rd quarter. Barclays PLC now owns 6,250 shares of the exchange traded fund’s stock worth $777,000 after purchasing an additional 100 shares in the last quarter. Kelly Financial Services LLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 5.0% in the 4th quarter. Kelly Financial Services LLC now owns 2,244 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 106 shares in the last quarter. Millington Financial Advisors LLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 2.7% in the 4th quarter. Millington Financial Advisors LLC now owns 4,656 shares of the exchange traded fund’s stock worth $500,000 after purchasing an additional 123 shares in the last quarter. Finally, Socha Financial Group LLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 4.5% in the 4th quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock worth $348,000 after purchasing an additional 127 shares in the last quarter.

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.