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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $118.51, but opened at $126.67. Direxion Daily Technology Bull 3X Shares shares last traded at $126.6320, with a volume of 455,511 shares.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a fifty day simple moving average of $128.44 and a 200-day simple moving average of $103.54. The firm has a market cap of $3.84 billion, a P/E ratio of 36.87 and a beta of 3.66.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TECL. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at $43,000. Ameritas Advisory Services LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $53,000. Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $56,000 after acquiring an additional 300 shares in the last quarter. Headlands Technologies LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the 1st quarter valued at about $35,000. Finally, Anchor Investment Management LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at about $59,000.

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.