Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 5.8% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares were down 5.8% on Tuesday . The stock traded as low as $113.44 and last traded at $114.9410. Approximately 804,515 shares were traded during trading, a decline of 48% from the average daily volume of 1,556,157 shares. The stock had previously closed at $122.08.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a market capitalization of $3.95 billion, a PE ratio of 36.87 and a beta of 3.66. The stock’s 50 day moving average is $128.03 and its two-hundred day moving average is $103.04.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of institutional investors have recently made changes to their positions in TECL. Barclays PLC raised its position 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 valued at $777,000 after buying an additional 100 shares during the last quarter. Stratos Wealth Advisors LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 0.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 21,031 shares of the exchange traded fund’s stock valued at $2,616,000 after acquiring an additional 192 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Direxion Daily Technology Bull 3X Shares by 99.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after purchasing an additional 300 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $43,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 12.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,968 shares of the exchange traded fund’s stock worth $371,000 after purchasing an additional 434 shares during the last quarter.

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.