Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Down 11.6% – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price traded down 11.6% during trading on Monday . The stock traded as low as $63.57 and last traded at $62.55. 731,300 shares changed hands during trading, a decline of 46% from the average session volume of 1,353,788 shares. The stock had previously closed at $70.76.

Direxion Daily Technology Bull 3X Shares Trading Down 12.8 %

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 38.49 and a beta of 3.51. The stock’s 50 day moving average price is $88.27 and its 200 day moving average price is $89.08.

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

Several large investors have recently made changes to their positions in TECL. Farther Finance Advisors LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 4,000.0% during the third quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after purchasing an additional 920 shares during the period. Axxcess Wealth Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $3,473,000. Larson Financial Group LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 1,753.3% during the 3rd quarter. Larson Financial Group LLC now owns 6,746 shares of the exchange traded fund’s stock worth $591,000 after acquiring an additional 6,382 shares during the period. Plotkin Financial Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $451,000. Finally, EP Wealth Advisors LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 2.1% in the 3rd quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock valued at $4,586,000 after acquiring an additional 1,066 shares during the period.

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.