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

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped up before the market opened on Monday . The stock had previously closed at $65.40, but opened at $68.60. Direxion Daily Technology Bull 3X Shares shares last traded at $68.72, with a volume of 247,873 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Up 6.0 %

The stock has a fifty day moving average of $82.73 and a two-hundred day moving average of $87.85. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 31.33 and a beta of 3.56.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at $41,000. Kane Investment Management Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $205,000. GFG Capital LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $216,000. Millington Financial Advisors LLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in 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. Finally, Merit Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $275,000.

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.