Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sees Large Increase in Short Interest

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 571,480 shares, an increase of 116.4% from the December 31st total of 264,050 shares. Based on an average daily trading volume, of 944,815 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.7% of the shares of the company are short sold. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 944,815 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

Several institutional investors have recently bought and sold shares of TECL. Socha Financial Group LLC lifted its stake in shares of Direxion Daily Technology Bull 3X Shares by 4.5% in the 4th quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock worth $348,000 after acquiring an additional 127 shares during the period. IMC Chicago LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at about $6,550,000. West Michigan Advisors LLC boosted its holdings in Direxion Daily Technology Bull 3X Shares by 2.0% in the 4th quarter. West Michigan Advisors LLC now owns 5,100 shares of the exchange traded fund’s stock valued at $599,000 after purchasing an additional 100 shares in the last quarter. APS Management Group Inc. increased its position in Direxion Daily Technology Bull 3X Shares by 8.6% during the 4th quarter. APS Management Group Inc. now owns 2,229 shares of the exchange traded fund’s stock worth $262,000 after purchasing an additional 177 shares during the period. Finally, BankPlus Trust Department acquired a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $47,000.

Direxion Daily Technology Bull 3X Shares Trading Down 5.9%

Shares of Direxion Daily Technology Bull 3X Shares stock traded down $7.29 during trading on Friday, reaching $115.43. The company’s stock had a trading volume of 2,024,949 shares, compared to its average volume of 1,162,402. The company has a 50-day moving average price of $121.70 and a two-hundred day moving average price of $118.29. Direxion Daily Technology Bull 3X Shares has a fifty-two week low of $32.52 and a fifty-two week high of $155.50. The firm has a market cap of $3.88 billion, a PE ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The business also recently declared 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 27.9%. The ex-dividend date was Wednesday, December 10th.

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.