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

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down prior to trading on Thursday . The stock had previously closed at $51.83, but opened at $46.67. Direxion Daily Technology Bull 3X Shares shares last traded at $45.76, with a volume of 881,005 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Up 5.8 %

The firm has a market capitalization of $1.79 billion, a PE ratio of 28.55 and a beta of 3.56. The firm has a 50 day simple moving average of $70.37 and a 200 day simple moving average of $84.70.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were given a dividend of $0.2088 per share. The ex-dividend date was Tuesday, March 25th.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of large investors have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $41,000. Kane Investment Management Inc. purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $205,000. GFG Capital LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $216,000. Millington Financial Advisors LLC lifted its stake in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 212 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth approximately $275,000.

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.