Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Reaches New 1-Year Low – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price reached a new 52-week low on Monday . The company traded as low as $53.59 and last traded at $55.49, with a volume of 535502 shares traded. The stock had previously closed at $58.43.

Direxion Daily Technology Bull 3X Shares Trading Up 2.0 %

The firm has a 50 day simple moving average of $79.16 and a two-hundred day simple moving average of $87.33. The company has a market capitalization of $2.26 billion, a PE ratio of 28.55 and a beta of 3.56.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.2088 dividend. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 28.9% during the 3rd quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock worth $643,000 after purchasing an additional 1,645 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth about $275,000. Millington Financial Advisors LLC increased its holdings in 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 buying an additional 212 shares in the last quarter. Rovin Capital UT ADV lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 2.6% during the 4th quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock valued at $1,096,000 after acquiring an additional 306 shares during the period. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $968,000.

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.