Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Reaches New 1-Year High – Time to Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price hit a new 52-week high on Thursday . The company traded as high as $228.18 and last traded at $221.07, with a volume of 1012375 shares changing hands. The stock had previously closed at $224.06.

Direxion Daily Technology Bull 3X Shares Trading Down 1.3%

The business’s fifty day simple moving average is $140.24 and its two-hundred day simple moving average is $124.61. The stock has a market capitalization of $7.22 billion, a P/E ratio of 36.87 and a beta of 3.96.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gotham Asset Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth about $14,636,000. PNC Financial Services Group Inc. lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 14.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock worth $5,454,000 after acquiring an additional 8,000 shares during the period. IMC Chicago LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth about $6,550,000. Mariner LLC lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 5.3% during the 4th quarter. Mariner LLC now owns 45,805 shares of the exchange traded fund’s stock worth $5,382,000 after acquiring an additional 2,295 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth about $4,947,000.

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.