Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Share Price Cross Above Fifty Day Moving Average – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $93.87 and traded as high as $97.03. Direxion Daily Technology Bull 3X Shares shares last traded at $95.02, with a volume of 1,769,812 shares trading hands.

Direxion Daily Technology Bull 3X Shares Trading Up 4.5 %

The business has a 50-day moving average price of $93.87 and a 200-day moving average price of $89.53. The stock has a market cap of $4.03 billion, a PE ratio of 50.15 and a beta of 4.03.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several large investors have recently made changes to their positions in the company. Sollinda Capital Management LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares during the 3rd quarter valued at about $20,933,000. Squarepoint Ops LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $3,956,000. Axxcess Wealth Management LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $3,473,000. Virtu Financial LLC increased its holdings in shares of Direxion Daily Technology Bull 3X Shares by 577.2% in the second quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock valued at $2,644,000 after purchasing an additional 23,140 shares during the last quarter. Finally, Triton Wealth Management PLLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the third quarter worth approximately $960,000.

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.