Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Shares Gap Down – What’s Next?

Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $152.62, but opened at $140.75. Direxion Daily Technology Bull 3X ETF shares last traded at $145.51, with a volume of 222,429 shares traded.

Direxion Daily Technology Bull 3X ETF Stock Performance

The stock’s 50-day moving average price is $203.88 and its two-hundred day moving average price is $172.14. The stock has a market capitalization of $4.52 billion, a PE ratio of 33.07 and a beta of 4.22.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X ETF

Several hedge funds have recently bought and sold shares of TECL. Covestor Ltd increased its stake in shares of Direxion Daily Technology Bull 3X ETF by 12.1% during the third quarter. Covestor Ltd now owns 696 shares of the exchange traded fund’s stock valued at $162,000 after purchasing an additional 75 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 3rd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter worth approximately $76,000. Anchor Investment Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter worth approximately $98,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X ETF in the 2nd quarter worth approximately $223,000.

About Direxion Daily Technology Bull 3X ETF

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.