Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Up 5.9%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares shot up 5.9% during trading on Monday . The company traded as high as $94.48 and last traded at $94.34. 354,060 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,113,636 shares. The stock had previously closed at $89.06.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a 50 day moving average price of $93.20 and a 200 day moving average price of $81.11. The company has a market cap of $3.99 billion, a P/E ratio of 50.15 and a beta of 4.03.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of TECL. Signaturefd LLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 100.0% during the fourth quarter. Signaturefd LLC now owns 500 shares of the exchange traded fund’s stock worth $33,000 after purchasing an additional 250 shares during the period. Private Wealth Management Group LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $33,000. Headlands Technologies LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the first quarter valued at $72,000. Jump Financial LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $213,000. Finally, James J. Burns & Company LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at $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.