Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) Shares Gap Up – Still a Buy?

Shares of Direxion Daily Technology Bull 3X ETF (NYSEARCA:TECL) gapped up before the market opened on Monday. The stock had previously closed at $188.71, but opened at $199.83. Direxion Daily Technology Bull 3X ETF shares last traded at $196.0320, with a volume of 125,955 shares changing hands.

Direxion Daily Technology Bull 3X ETF Stock Down 0.7%

The company has a 50 day moving average of $213.86 and a 200-day moving average of $195.68. The stock has a market capitalization of $5.51 billion, a P/E ratio of 36.87 and a beta of 4.13.

Institutional Trading of Direxion Daily Technology Bull 3X ETF

Institutional investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of Direxion Daily Technology Bull 3X ETF in the 3rd quarter worth about $388,000. Toth Financial Advisory Corp acquired a new position in shares of Direxion Daily Technology Bull 3X ETF in the 3rd quarter valued at about $25,000. Anchor Investment Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X ETF during the 2nd quarter valued at about $98,000. Allworth Financial LP bought a new stake in shares of Direxion Daily Technology Bull 3X ETF during the 2nd quarter valued at about $4,568,000. Finally, Corient Private Wealth LP bought a new stake in shares of Direxion Daily Technology Bull 3X ETF during the 2nd quarter valued at about $232,000.

Direxion Daily Technology Bull 3X ETF 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.