Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up before the market opened on Thursday . The stock had previously closed at $192.70, but opened at $203.76. Direxion Daily Technology Bull 3X Shares shares last traded at $205.51, with a volume of 134,116 shares.

Direxion Daily Technology Bull 3X Shares Stock Down 4.7%

The stock has a 50 day moving average of $198.01 and a 200 day moving average of $164.50. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 36.87 and a beta of 4.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Steadtrust LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth $36,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Direxion Daily Technology Bull 3X Shares by 99.7% in 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 period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily Technology Bull 3X Shares in the second quarter valued at $76,000. Kestra Advisory Services LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $88,000. Finally, Raymond James Financial Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares during the second quarter valued at $94,000.

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.