Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Still a Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up prior to trading on Monday . The stock had previously closed at $215.49, but opened at $235.00. Direxion Daily Technology Bull 3X Shares shares last traded at $237.80, with a volume of 337,874 shares changing hands.

Direxion Daily Technology Bull 3X Shares Price Performance

The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 36.87 and a beta of 4.12. The business has a fifty day moving average price of $179.09 and a 200 day moving average price of $135.20.

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

Large investors have recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $1,126,000. IMC Chicago LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $6,550,000. X Square Capital LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the third quarter worth about $2,550,000. Ogborne Capital Management LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $2,937,000. Finally, Donalies Financial Planning LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at about $733,000.

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.