Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 6.7% – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price were down 6.7% during mid-day trading on Monday . The stock traded as low as $197.35 and last traded at $197.53. 115,505 shares changed hands during trading, a decline of 91% from the average session volume of 1,352,071 shares. The stock had previously closed at $211.70.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a fifty day simple moving average of $210.37 and a 200 day simple moving average of $146.40. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 36.87 and a beta of 4.11.

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

A number of hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $6,550,000. Stonebridge Financial Group LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $1,126,000. Ogborne Capital Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $2,937,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 1st quarter worth approximately $346,000. Finally, Virtu Financial LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 1,035.9% in the 4th quarter. Virtu Financial LLC now owns 28,660 shares of the exchange traded fund’s stock worth $3,367,000 after purchasing an additional 26,137 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.