Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Down 15.4% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares were down 15.4% during trading on Thursday . The company traded as low as $51.59 and last traded at $51.60. Approximately 627,131 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,583,345 shares. The stock had previously closed at $60.99.

Direxion Daily Technology Bull 3X Shares Stock Down 20.0 %

The company has a 50-day moving average of $76.20 and a two-hundred day moving average of $86.59. The company has a market capitalization of $1.48 billion, a P/E ratio of 28.55 and a beta of 3.56.

Direxion Daily Technology Bull 3X Shares Announces Dividend

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

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

Several hedge funds have recently bought and sold shares of the business. Millington Financial Advisors LLC increased its position in 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 in the last quarter. TRUE Private Wealth Advisors lifted 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 acquiring an additional 272 shares in the last quarter. Rovin Capital UT ADV boosted its stake in 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 purchasing an additional 306 shares during the last quarter. LPL Financial LLC increased its holdings 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 purchasing an additional 340 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $41,000.

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.