Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Here’s What Happened

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down before the market opened on Tuesday . The stock had previously closed at $239.87, but opened at $211.27. Direxion Daily Technology Bull 3X Shares shares last traded at $217.03, with a volume of 318,366 shares.

Direxion Daily Technology Bull 3X Shares Price Performance

The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 36.87 and a beta of 4.12. The business’s fifty day simple moving average is $189.73 and its 200 day simple moving average is $138.24.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several large investors have recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at approximately $1,126,000. IMC Chicago LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $6,550,000. X Square Capital LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth $2,550,000. Ogborne Capital Management LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at $2,937,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the 1st quarter valued at $346,000.

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.