Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Still a Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $90.83, but opened at $94.49. Direxion Daily Technology Bull 3X Shares shares last traded at $93.66, with a volume of 149,229 shares.

Direxion Daily Technology Bull 3X Shares Trading Up 0.7 %

The company has a market cap of $3.92 billion, a P/E ratio of 50.15 and a beta of 4.03. The business has a 50 day moving average price of $83.44 and a 200-day moving average price of $83.74.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the first quarter valued at approximately $72,000. Valmark Advisers Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at $201,000. Onyx Bridge Wealth Group LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth $226,000. PFG Investments LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth $253,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at $271,000.

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.