Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Shares Gap Up – Should You Buy?

Shares of Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) gapped up before the market opened on Monday. The stock had previously closed at $188.71, but opened at $199.83. Direxion Daily Technology Bull 3X ETF shares last traded at $196.0320, with a volume of 125,955 shares.

Direxion Daily Technology Bull 3X ETF Price Performance

The company’s 50 day moving average price is $214.27 and its 200 day moving average price is $194.18. The firm has a market capitalization of $5.64 billion, a P/E ratio of 36.87 and a beta of 4.13.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 3rd quarter valued at $388,000. Toth Financial Advisory Corp acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the third quarter valued at $25,000. Anchor Investment Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the second quarter valued at $98,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Technology Bull 3X ETF during the second quarter valued at $4,568,000. Finally, Corient Private Wealth LP bought a new position in Direxion Daily Technology Bull 3X ETF in the second quarter valued at about $232,000.

About Direxion Daily Technology Bull 3X ETF

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.