Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Time to Buy?

Posted by Donald Scott on Dec 15th, 2024

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL – Get Free Report)’s share price gapped up before the market opened on Friday . The stock had previously closed at $98.16, but opened at $100.69. Direxion Daily Technology Bull 3X Shares shares last traded at $100.52, with a volume of 283,172 shares trading hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The business’s 50-day simple moving average is $93.32 and its 200-day simple moving average is $89.06.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 4,000.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock valued at $83,000 after acquiring an additional 920 shares during the period. Valmark Advisers Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $201,000. Onyx Bridge Wealth Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $226,000. Headlands Technologies LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 169.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock worth $236,000 after buying an additional 1,526 shares during the period. Finally, Socha Financial Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $243,000.

About Direxion Daily Technology Bull 3X Shares

(Get Free Report)

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.