Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Hits New 1-Year High – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $156.26 and last traded at $155.87, with a volume of 220341 shares changing hands. The stock had previously closed at $152.66.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a 50-day moving average of $108.38 and a 200 day moving average of $117.61. The company has a market capitalization of $5.02 billion, a PE ratio of 36.87 and a beta of 3.96.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in TECL. BankPlus Trust Department bought a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth approximately $47,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 buying an additional 300 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $88,000. Wealth Watch Advisors INC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter worth $117,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth $94,000.

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.