Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Cross Below 50 Day Moving Average – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $120.85 and traded as low as $118.44. Direxion Daily Technology Bull 3X Shares shares last traded at $121.23, with a volume of 737,660 shares.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $4.07 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. The firm has a fifty day moving average price of $120.85 and a 200 day moving average price of $117.84.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were paid a $8.0376 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $32.15 dividend on an annualized basis and a yield of 26.5%.

Institutional Investors Weigh In On Direxion Daily Technology Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth approximately $53,000. Manchester Capital Management LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $281,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $768,000. Kelly Financial Services LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $204,000. Finally, Simplex Trading LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $844,000.

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.