Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sees Large Growth in Short Interest

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,072,119 shares, an increase of 37.9% from the February 12th total of 777,441 shares. Based on an average daily volume of 1,111,931 shares, the short-interest ratio is currently 1.0 days. Currently, 3.2% of the shares of the stock are sold short. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 1,111,931 shares, the short-interest ratio is currently 1.0 days.

Direxion Daily Technology Bull 3X Shares Stock Performance

Direxion Daily Technology Bull 3X Shares stock opened at $99.70 on Monday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. Direxion Daily Technology Bull 3X Shares has a 1 year low of $32.52 and a 1 year high of $155.50. The firm’s 50 day moving average price is $110.87 and its two-hundred day moving average price is $118.87.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

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