Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Stock Price Down 17.3% – Time to Sell?

Shares of Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) were down 17.3% during trading on Thursday. The stock traded as low as $136.04 and last traded at $135.4350. Approximately 691,836 shares were traded during trading, a decline of 36% from the average daily volume of 1,075,781 shares. The stock had previously closed at $163.69.

Direxion Daily Technology Bull 3X ETF Stock Down 20.3%

The firm’s 50 day moving average is $210.10 and its two-hundred day moving average is $171.61. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 36.87 and a beta of 4.18.

Institutional Trading of Direxion Daily Technology Bull 3X ETF

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter valued at approximately $4,568,000. Steadtrust LLC acquired a new stake in Direxion Daily Technology Bull 3X ETF in the second quarter valued at approximately $36,000. PNC Financial Services Group Inc. raised its holdings in Direxion Daily Technology Bull 3X ETF by 14.5% during the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after buying an additional 8,000 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in Direxion Daily Technology Bull 3X ETF in the 3rd quarter worth approximately $698,000. Finally, StoneX Group Inc. acquired a new position in Direxion Daily Technology Bull 3X ETF in the 3rd quarter valued at $577,000.

Direxion Daily Technology Bull 3X ETF 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.