Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $101.25, but opened at $95.30. Direxion Daily Technology Bull 3X Shares shares last traded at $97.22, with a volume of 639,877 shares traded.

Direxion Daily Technology Bull 3X Shares Price Performance

The stock has a 50 day moving average price of $100.09 and a 200-day moving average price of $78.29. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 36.87 and a beta of 3.54.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 9.7% in the first quarter. SBI Securities Co. Ltd. now owns 262,979 shares of the exchange traded fund’s stock worth $15,400,000 after acquiring an additional 23,301 shares during the last quarter. Oxinas Partners Wealth Management LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 85.9% in the second quarter. Oxinas Partners Wealth Management LLC now owns 55,034 shares of the exchange traded fund’s stock worth $5,150,000 after acquiring an additional 25,435 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth approximately $2,299,000. Modern Wealth Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth approximately $2,279,000. Finally, Flow Traders U.S. LLC boosted its stake in Direxion Daily Technology Bull 3X Shares by 489.2% during the first quarter. Flow Traders U.S. LLC now owns 23,750 shares of the exchange traded fund’s stock worth $1,391,000 after buying an additional 19,719 shares during 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.