Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Pass Above Fifty Day Moving Average – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $93.87 and traded as high as $97.03. Direxion Daily Technology Bull 3X Shares shares last traded at $95.02, with a volume of 1,769,812 shares changing hands.

Direxion Daily Technology Bull 3X Shares Price Performance

The company has a market cap of $4.03 billion, a P/E ratio of 50.15 and a beta of 4.03. The stock’s 50-day moving average is $93.87 and its two-hundred day moving average is $89.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valmark Advisers Inc. purchased a new stake in Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth $201,000. Oxinas Partners Wealth Management LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 10.8% in the second quarter. Oxinas Partners Wealth Management LLC now owns 18,492 shares of the exchange traded fund’s stock worth $1,801,000 after buying an additional 1,800 shares in the last quarter. PFG Investments LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at approximately $253,000. Headlands Technologies LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 169.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after buying an additional 1,526 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in Direxion Daily Technology Bull 3X Shares by 27.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 15,094 shares of the exchange traded fund’s stock valued at $1,470,000 after buying an additional 3,257 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.