Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $177.86, but opened at $189.05. Direxion Daily Technology Bull 3X Shares shares last traded at $188.11, with a volume of 103,440 shares changing hands.

Direxion Daily Technology Bull 3X Shares Trading Down 0.8%

The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 36.87 and a beta of 4.11. The stock’s 50-day moving average is $211.91 and its 200-day moving average is $150.26.

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. Gotham Asset Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at $14,636,000. PNC Financial Services Group Inc. grew its position in Direxion Daily Technology Bull 3X Shares by 14.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock worth $5,454,000 after acquiring an additional 8,000 shares during the last quarter. IMC Chicago LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth $6,550,000. Mariner LLC increased its holdings in Direxion Daily Technology Bull 3X Shares by 5.3% in the 4th quarter. Mariner LLC now owns 45,805 shares of the exchange traded fund’s stock worth $5,382,000 after purchasing an additional 2,295 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $4,947,000.

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.