Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 5.1% – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares traded down 5.1% during mid-day trading on Wednesday . The stock traded as low as $116.88 and last traded at $116.9660. 437,541 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 814,965 shares. The stock had previously closed at $123.20.

Direxion Daily Technology Bull 3X Shares Price Performance

The business’s fifty day simple moving average is $122.47 and its two-hundred day simple moving average is $116.62. The company has a market cap of $4.08 billion, a PE ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a dividend of $8.0376 per share. The ex-dividend date was Wednesday, December 10th. This represents a $32.15 dividend on an annualized basis and a yield of 26.6%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Gotham Asset Management LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth $14,636,000. Oxinas Partners Wealth Management LLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 85.9% during the second quarter. Oxinas Partners Wealth Management LLC now owns 55,034 shares of the exchange traded fund’s stock worth $5,150,000 after purchasing an additional 25,435 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth about $2,299,000. Modern Wealth Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth about $2,279,000. Finally, Jump Financial LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $1,963,000.

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.