Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 7.2%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares were down 7.2% on Tuesday . The stock traded as low as $75.57 and last traded at $75.62. Approximately 957,511 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 2,130,874 shares. The stock had previously closed at $81.53.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a market capitalization of $3.19 billion, a P/E ratio of 50.15 and a beta of 4.03. The company’s 50-day simple moving average is $93.82 and its two-hundred day simple moving average is $82.12.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC raised its position in Direxion Daily Technology Bull 3X Shares by 11.1% in the first quarter. EP Wealth Advisors LLC now owns 54,054 shares of the exchange traded fund’s stock worth $4,332,000 after acquiring an additional 5,393 shares during the period. Ogborne Capital Management LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth approximately $1,668,000. Main Street Financial Solutions LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth approximately $1,275,000. Crescent Grove Advisors LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at $977,000. Finally, Rovin Capital UT ADV raised its position in shares of Direxion Daily Technology Bull 3X Shares by 16.0% during the 1st quarter. Rovin Capital UT ADV now owns 9,937 shares of the exchange traded fund’s stock valued at $796,000 after purchasing an additional 1,374 shares during the period.

Direxion Daily Technology Bull 3X Shares Company 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.