Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Thursday . The stock had previously closed at $265.10, but opened at $245.93. Direxion Daily Technology Bull 3X Shares shares last traded at $242.77, with a volume of 368,085 shares.

Direxion Daily Technology Bull 3X Shares Trading Down 6.2%

The company has a market cap of $8.12 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 $156.05 and a two-hundred day moving average price of $128.92.

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

Large investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in 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 worth $777,000 after buying an additional 100 shares during the last quarter. West Michigan Advisors LLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 2.0% in the fourth quarter. West Michigan Advisors LLC now owns 5,100 shares of the exchange traded fund’s stock worth $599,000 after buying an additional 100 shares during the last quarter. Kelly Financial Services LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 5.0% in the 4th quarter. Kelly Financial Services LLC now owns 2,244 shares of the exchange traded fund’s stock worth $264,000 after acquiring an additional 106 shares during the period. Millington Financial Advisors LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 2.7% in the 4th quarter. Millington Financial Advisors LLC now owns 4,656 shares of the exchange traded fund’s stock worth $500,000 after acquiring an additional 123 shares during the period. Finally, Socha Financial Group LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 4.5% in the 4th quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock worth $348,000 after acquiring an additional 127 shares during the period.

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.