Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $118.75 and traded as low as $102.09. Direxion Daily Technology Bull 3X Shares shares last traded at $102.79, with a volume of 1,609,546 shares.

Direxion Daily Technology Bull 3X Shares Trading Up 0.8%

The firm has a 50-day moving average of $118.33 and a 200-day moving average of $118.74. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were issued a $8.0376 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $32.15 dividend on an annualized basis and a dividend yield of 31.0%.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Large investors have recently bought and sold shares of the company. West Michigan Advisors LLC raised its position in Direxion Daily Technology Bull 3X Shares by 2.0% during the 4th quarter. West Michigan Advisors LLC now owns 5,100 shares of the exchange traded fund’s stock worth $599,000 after buying an additional 100 shares during the last quarter. Barclays PLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 1.6% in the third quarter. Barclays PLC now owns 6,250 shares of the exchange traded fund’s stock worth $777,000 after acquiring an additional 100 shares during the period. Kelly Financial Services LLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 5.0% during the fourth quarter. Kelly Financial Services LLC now owns 2,244 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 106 shares during the last quarter. Millington Financial Advisors LLC lifted its position in Direxion Daily Technology Bull 3X Shares by 2.7% during the fourth quarter. Millington Financial Advisors LLC now owns 4,656 shares of the exchange traded fund’s stock valued at $500,000 after purchasing an additional 123 shares during the period. Finally, Socha Financial Group LLC lifted its position in Direxion Daily Technology Bull 3X Shares by 4.5% during the fourth quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock valued at $348,000 after purchasing an additional 127 shares during the period.

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.