Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Cross Below 200 Day Moving Average – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $118.97 and traded as low as $96.20. Direxion Daily Technology Bull 3X Shares shares last traded at $102.56, with a volume of 1,451,180 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Up 5.0%

The firm’s fifty day moving average price is $113.69 and its two-hundred day moving average price is $118.80. The stock has a market capitalization of $3.47 billion, a PE ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were issued a $8.0376 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $32.15 dividend on an annualized basis and a yield of 31.2%.

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

Several hedge funds have recently modified their holdings of the company. Gotham Asset Management LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth about $14,636,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $6,550,000. Mariner LLC increased its position in shares of Direxion Daily Technology Bull 3X Shares by 5.3% in the fourth quarter. Mariner LLC now owns 45,805 shares of the exchange traded fund’s stock valued at $5,382,000 after buying an additional 2,295 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $4,947,000. Finally, Flow Traders U.S. LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 102.6% during the 3rd quarter. Flow Traders U.S. LLC now owns 35,840 shares of the exchange traded fund’s stock valued at $4,457,000 after buying an additional 18,150 shares in the last quarter.

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.