Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Up 8.3%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price rose 8.3% on Thursday . The stock traded as high as $84.99 and last traded at $84.51. Approximately 353,617 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,067,802 shares. The stock had previously closed at $78.01.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a 50 day simple moving average of $81.61 and a two-hundred day simple moving average of $82.63. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the first quarter worth about $72,000. Valmark Advisers Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth about $201,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $213,000. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth about $226,000. Finally, James J. Burns & Company LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $248,000.

About Direxion Daily Technology Bull 3X Shares

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.