Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Down 7.3% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares were down 7.3% during mid-day trading on Monday . The company traded as low as $180.57 and last traded at $180.57. Approximately 250,213 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,230,971 shares. The stock had previously closed at $194.81.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market capitalization of $5.44 billion, a PE ratio of 36.87 and a beta of 4.13. The company’s fifty day moving average is $201.43 and its 200-day moving average is $161.70.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several institutional investors have recently made changes to their positions in the business. IMC Chicago LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $6,550,000. Ogborne Capital Management LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth about $2,937,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the first quarter worth about $346,000. PNC Financial Services Group Inc. boosted its stake in Direxion Daily Technology Bull 3X Shares by 14.5% during the first quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after buying an additional 8,000 shares during the last quarter. Finally, Steadtrust LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at approximately $36,000.

About Direxion Daily Technology Bull 3X Shares

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.