Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $90.83, but opened at $94.49. Direxion Daily Technology Bull 3X Shares shares last traded at $93.66, with a volume of 149,229 shares traded.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The business’s 50 day moving average price is $81.90 and its 200 day moving average price is $83.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the first quarter worth approximately $72,000. EP Wealth Advisors LLC boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 11.1% during the 1st quarter. EP Wealth Advisors LLC now owns 54,054 shares of the exchange traded fund’s stock valued at $4,332,000 after acquiring an additional 5,393 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the first quarter valued at about $321,000. Kingswood Wealth Advisors LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the second quarter worth about $271,000. Finally, James J. Burns & Company LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $364,000.

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.