Ogborne Capital Management LLC Makes New $2.94 Million Investment in Direxion Daily Technology Bull 3X Shares $TECL

Ogborne Capital Management LLC purchased a new position in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the exchange traded fund’s stock, valued at approximately $2,937,000. Direxion Daily Technology Bull 3X Shares comprises approximately 0.9% of Ogborne Capital Management LLC’s holdings, making the stock its 10th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. BankPlus Trust Department acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $47,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $88,000. Raymond James Financial Inc. acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth about $94,000. Finally, Wealth Watch Advisors INC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth about $117,000.

Direxion Daily Technology Bull 3X Shares Trading Up 11.0%

Shares of NYSEARCA:TECL opened at $239.21 on Tuesday. The stock’s 50-day moving average price is $176.54 and its two-hundred day moving average price is $134.50. Direxion Daily Technology Bull 3X Shares has a 12-month low of $75.16 and a 12-month high of $275.40. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 36.87 and a beta of 4.12.

Direxion Daily Technology Bull 3X Shares 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.