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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $192.70, but opened at $203.76. Direxion Daily Technology Bull 3X Shares shares last traded at $205.51, with a volume of 134,116 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Up 6.7%

The company has a fifty day moving average of $199.24 and a 200-day moving average of $163.51. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 36.87 and a beta of 4.13.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings 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 purchasing an additional 100 shares during the period. Millington Financial Advisors LLC increased its position in Direxion Daily Technology Bull 3X Shares by 2.7% during the fourth quarter. Millington Financial Advisors LLC now owns 4,656 shares of the exchange traded fund’s stock worth $500,000 after purchasing an additional 123 shares during the last quarter. Socha Financial Group LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 4.5% during the fourth quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock worth $348,000 after purchasing an additional 127 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Direxion Daily Technology Bull 3X Shares by 2.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,245 shares of the exchange traded fund’s stock worth $616,000 after purchasing an additional 130 shares during the period. Finally, CWM LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 6.7% in the 4th quarter. CWM LLC now owns 2,435 shares of the exchange traded fund’s stock valued at $286,000 after purchasing an additional 152 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.