Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 7.8% – What’s Next?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) dropped 7.8% on Thursday . The stock traded as low as $83.32 and last traded at $83.58. Approximately 484,238 shares changed hands during trading, a decline of 75% from the average daily volume of 1,901,997 shares. The stock had previously closed at $90.66.

Direxion Daily Technology Bull 3X Shares Price Performance

The business has a 50 day simple moving average of $84.86 and a 200-day simple moving average of $84.60. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sollinda Capital Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the third quarter worth $20,933,000. EP Wealth Advisors LLC increased its holdings in 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 worth $4,332,000 after purchasing an additional 5,393 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $3,956,000. Virtu Financial LLC lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 577.2% in the second quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock valued at $2,644,000 after purchasing an additional 23,140 shares in the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 24,764 shares of the exchange traded fund’s stock worth $2,168,000 after buying an additional 232 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.