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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Monday . The stock had previously closed at $96.74, but opened at $92.50. Direxion Daily Technology Bull 3X Shares shares last traded at $91.39, with a volume of 460,049 shares changing hands.

Direxion Daily Technology Bull 3X Shares Trading Down 3.1 %

The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The stock has a fifty day moving average price of $94.57 and a 200-day moving average price of $90.02.

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

Several large investors have recently made changes to their positions in TECL. Farther Finance Advisors LLC grew its position in Direxion Daily Technology Bull 3X Shares by 4,000.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after acquiring an additional 920 shares during the last quarter. Valmark Advisers Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $201,000. Headlands Technologies LLC lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 169.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after purchasing an additional 1,526 shares in the last quarter. Socha Financial Group LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at approximately $243,000. Finally, PFG Investments LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the second quarter worth $253,000.

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.