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 Wednesday . The stock had previously closed at $59.74, but opened at $57.07. Direxion Daily Technology Bull 3X Shares shares last traded at $59.61, with a volume of 125,653 shares trading hands.

Direxion Daily Technology Bull 3X Shares Price Performance

The company has a market cap of $2.25 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56. The firm’s 50-day moving average price is $79.16 and its 200-day moving average price is $87.33.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a $0.2088 dividend. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millington Financial Advisors LLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 7.4% during the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after buying an additional 212 shares during the period. TRUE Private Wealth Advisors boosted its position in Direxion Daily Technology Bull 3X Shares by 1.6% in the 4th quarter. TRUE Private Wealth Advisors now owns 17,776 shares of the exchange traded fund’s stock valued at $1,610,000 after buying an additional 272 shares during the last quarter. Rovin Capital UT ADV boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 2.6% during the 4th quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock valued at $1,096,000 after buying an additional 306 shares during the last quarter. LPL Financial LLC grew its position in shares of Direxion Daily Technology Bull 3X Shares by 6.3% in the 4th quarter. LPL Financial LLC now owns 5,699 shares of the exchange traded fund’s stock worth $516,000 after acquiring an additional 340 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $41,000.

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.