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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down prior to trading on Monday . The stock had previously closed at $76.04, but opened at $72.59. Direxion Daily Technology Bull 3X Shares shares last traded at $74.73, with a volume of 451,761 shares trading hands.

Direxion Daily Technology Bull 3X Shares Stock Down 1.1%

The company has a fifty day moving average price of $57.20 and a two-hundred day moving average price of $78.80. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 36.41 and a beta of 3.66.

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

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the first quarter worth about $35,000. Park Square Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $41,000. Creative Financial Designs Inc. ADV purchased a new position in Direxion Daily Technology Bull 3X Shares in the first quarter worth $45,000. Kane Investment Management Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $205,000. Finally, GFG Capital LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth $216,000.

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.