Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sees Significant Growth in Short Interest

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 571,480 shares, an increase of 116.4% from the December 31st total of 264,050 shares. Based on an average daily volume of 944,815 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.7% of the shares of the stock are short sold. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 944,815 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Direxion Daily Technology Bull 3X Shares during the second quarter worth $53,000. Manchester Capital Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth $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 $768,000. Simplex Trading LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $844,000. Finally, Millington Financial Advisors LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at about $454,000.

Direxion Daily Technology Bull 3X Shares Stock Down 5.9%

TECL opened at $115.43 on Friday. The company has a 50-day moving average price of $121.70 and a 200 day moving average price of $118.43. Direxion Daily Technology Bull 3X Shares has a twelve month low of $32.52 and a twelve month high of $155.50. The company has a market cap of $3.88 billion, a PE ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were paid a $8.0376 dividend. This represents a $32.15 annualized dividend and a dividend yield of 27.9%. The ex-dividend date was Wednesday, December 10th.

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.