Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $66.50, but opened at $64.04. Direxion Daily Technology Bull 3X Shares shares last traded at $65.81, with a volume of 231,134 shares traded.

Direxion Daily Technology Bull 3X Shares Stock Up 0.8 %

The company has a market cap of $2.31 billion, a PE ratio of 31.33 and a beta of 3.56. The stock has a 50-day moving average of $82.73 and a 200-day moving average of $87.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $41,000. Kane Investment Management Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $205,000. GFG Capital LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $216,000. Merit Financial Group LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at approximately $275,000. Finally, Millington Financial Advisors LLC boosted its position in Direxion Daily Technology Bull 3X Shares by 7.4% during the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after acquiring an additional 212 shares in 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.