Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up to $66.27

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $66.27, but opened at $71.47. Direxion Daily Technology Bull 3X Shares shares last traded at $71.44, with a volume of 1,677,016 shares.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market capitalization of $3.04 billion, a P/E ratio of 50.15 and a beta of 4.03. The stock’s fifty day moving average price is $76.04 and its 200-day moving average price is $67.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 19.4% in the third quarter. Barclays PLC now owns 6,810 shares of the exchange traded fund’s stock valued at $293,000 after purchasing an additional 1,107 shares during the period. Sowell Financial Services LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 12.9% in the 3rd quarter. Sowell Financial Services LLC now owns 41,946 shares of the exchange traded fund’s stock valued at $1,807,000 after acquiring an additional 4,805 shares during the period. Pathstone Family Office LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the third quarter worth approximately $452,000. Group One Trading L.P. boosted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 98.7% during the third quarter. Group One Trading L.P. now owns 33,112 shares of the exchange traded fund’s stock worth $1,427,000 after acquiring an additional 16,445 shares during the period. Finally, TRUE Private Wealth Advisors grew its position in shares of Direxion Daily Technology Bull 3X Shares by 0.6% in the third quarter. TRUE Private Wealth Advisors now owns 34,691 shares of the exchange traded fund’s stock valued at $1,495,000 after purchasing an additional 192 shares during the last quarter.

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.