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 traded.

Direxion Daily Technology Bull 3X Shares Trading Up 6.0 %

The stock has a 50-day simple moving average of $82.73 and a 200-day simple moving average of $87.85. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 31.33 and a beta of 3.56.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $41,000. Kane Investment Management Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $205,000. GFG Capital LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $216,000. Millington Financial Advisors LLC lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in the fourth 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 fourth 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.