Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 5.1% – Time to Sell?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) traded down 5.1% on Wednesday . The stock traded as low as $116.88 and last traded at $116.9660. Approximately 437,541 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 814,965 shares. The stock had previously closed at $123.20.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm’s 50 day moving average is $123.26 and its 200 day moving average is $116.39. The company has a market capitalization of $3.91 billion, a PE ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were paid a dividend of $8.0376 per share. This represents a $32.15 annualized dividend and a dividend yield of 27.8%. The ex-dividend date of this dividend was Wednesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 1.6% during the third quarter. Barclays PLC now owns 6,250 shares of the exchange traded fund’s stock valued at $777,000 after acquiring an additional 100 shares in the last quarter. Kelly Financial Services LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 5.0% in the 4th quarter. Kelly Financial Services LLC now owns 2,244 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 106 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 0.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 21,031 shares of the exchange traded fund’s stock worth $2,616,000 after purchasing an additional 192 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Direxion Daily Technology Bull 3X Shares by 99.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after purchasing an additional 300 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter valued at about $43,000.

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.