Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Up 6.4% – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price shot up 6.4% during mid-day trading on Tuesday . The company traded as high as $87.95 and last traded at $88.32. 955,925 shares traded hands during trading, a decline of 29% from the average session volume of 1,354,146 shares. The stock had previously closed at $82.98.

Direxion Daily Technology Bull 3X Shares Trading Up 0.4 %

The company has a market cap of $3.71 billion, a PE ratio of 50.15 and a beta of 4.03. The firm’s fifty day moving average is $94.17 and its 200 day moving average is $88.32.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. GFG Capital LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $216,000. Oxinas Partners Wealth Management LLC boosted its stake in Direxion Daily Technology Bull 3X Shares by 22.0% during the fourth quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock worth $2,110,000 after buying an additional 4,205 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at about $275,000. Rovin Capital UT ADV increased its position in shares of Direxion Daily Technology Bull 3X Shares by 2.6% during the fourth 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 last quarter. Finally, Barclays PLC raised its stake in shares of Direxion Daily Technology Bull 3X Shares by 28.9% in the 3rd quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock valued at $643,000 after acquiring an additional 1,645 shares during the period.

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.