Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 6.5% – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price traded down 6.5% on Monday . The stock traded as low as $79.39 and last traded at $80.45. 548,346 shares were traded during trading, a decline of 58% from the average session volume of 1,311,402 shares. The stock had previously closed at $86.01.

Direxion Daily Technology Bull 3X Shares Price Performance

The business has a fifty day moving average of $93.62 and a 200-day moving average of $87.91. The stock has a market cap of $3.80 billion, a PE ratio of 50.15 and a beta of 4.03.

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

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of Direxion Daily Technology Bull 3X Shares by 4,000.0% during the third quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after purchasing an additional 920 shares in the last quarter. GFG Capital LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $216,000. Socha Financial Group LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the third quarter valued at $243,000. Millington Financial Advisors LLC increased its holdings in shares of Direxion Daily Technology Bull 3X Shares by 7.4% in the fourth quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after purchasing an additional 212 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth about $275,000.

About Direxion Daily Technology Bull 3X Shares

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.