Short Interest in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Grows By 116.4%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 571,480 shares, an increase of 116.4% from the December 31st total of 264,050 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 944,815 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 944,815 shares, the short-interest ratio is currently 0.6 days. Approximately 1.7% of the company’s shares are short sold.

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

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Direxion Daily Technology Bull 3X Shares in the third quarter worth about $43,000. BankPlus Trust Department bought a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $47,000. Ameritas Advisory Services LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at $53,000. Northwestern Mutual Wealth Management Co. raised its stake in Direxion Daily Technology Bull 3X Shares by 99.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock valued at $56,000 after buying an additional 300 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the second quarter worth $59,000.

Direxion Daily Technology Bull 3X Shares Stock Performance

Shares of NYSEARCA TECL traded down $1.63 during trading hours on Friday, hitting $121.09. The company’s stock had a trading volume of 184,620 shares, compared to its average volume of 1,065,028. Direxion Daily Technology Bull 3X Shares has a 12 month low of $32.52 and a 12 month high of $155.50. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. The business has a 50-day simple moving average of $121.56 and a 200-day simple moving average of $118.16.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a dividend of $8.0376 per share. This represents a $32.15 dividend on an annualized basis and a yield of 26.6%. The ex-dividend date of this dividend was Wednesday, December 10th.

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.