Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Down 7.5% – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price were down 7.5% during mid-day trading on Wednesday . The company traded as low as $64.10 and last traded at $64.30. Approximately 1,030,130 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 1,578,172 shares. The stock had previously closed at $69.52.

Direxion Daily Technology Bull 3X Shares Trading Down 7.5 %

The stock has a market capitalization of $2.27 billion, a P/E ratio of 31.33 and a beta of 3.56. The company has a 50-day moving average price of $82.13 and a 200 day moving average price of $87.86.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.2088 dividend. The ex-dividend date is Tuesday, March 25th.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $21,703,000. EP Wealth Advisors LLC lifted its stake in shares of Direxion Daily Technology Bull 3X Shares by 2.1% during the third quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock worth $4,586,000 after buying an additional 1,066 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Direxion Daily Technology Bull 3X Shares by 8,493.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,453 shares of the exchange traded fund’s stock valued at $2,848,000 after buying an additional 31,087 shares during the last quarter. Mariner LLC increased its position in shares of Direxion Daily Technology Bull 3X Shares by 384.1% in the 4th quarter. Mariner LLC now owns 29,288 shares of the exchange traded fund’s stock valued at $2,652,000 after acquiring an additional 23,238 shares during the period. Finally, Oxinas Partners Wealth Management LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 22.0% in the 4th quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock worth $2,110,000 after acquiring an additional 4,205 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.