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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $59.74, but opened at $57.07. Direxion Daily Technology Bull 3X Shares shares last traded at $59.61, with a volume of 125,653 shares changing hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a market cap of $2.25 billion, a PE ratio of 28.55 and a beta of 3.56. The firm’s 50-day moving average is $79.16 and its 200 day moving average is $87.33.

Direxion Daily Technology Bull 3X Shares Announces Dividend

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

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $41,000. Kane Investment Management Inc. purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $205,000. GFG Capital LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth about $216,000. Merit Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth approximately $275,000. Finally, Millington Financial Advisors LLC grew its stake in 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 worth $252,000 after acquiring an additional 212 shares during the period.

Direxion Daily Technology Bull 3X Shares Company Profile

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.