Valmark Advisers Inc. Purchases New Stake in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)

Valmark Advisers Inc. acquired a new position in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) during the 2nd quarter, HoldingsChannel reports. The fund acquired 2,069 shares of the exchange traded fund’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECL. Private Wealth Management Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $33,000. Headlands Technologies LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares in the first quarter worth $72,000. Onyx Bridge Wealth Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at $226,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at $271,000. Finally, Jump Financial LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at $213,000.

Direxion Daily Technology Bull 3X Shares Stock Performance

Shares of TECL opened at $71.71 on Wednesday. Direxion Daily Technology Bull 3X Shares has a fifty-two week low of $39.02 and a fifty-two week high of $112.78. The business has a 50-day moving average of $87.79 and a 200 day moving average of $82.83. The firm has a market cap of $3.04 billion, a P/E ratio of 50.15 and a beta of 4.03.

Direxion Daily Technology Bull 3X Shares 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.