Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Cross Below 200 Day Moving Average – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $118.94 and traded as low as $100.90. Direxion Daily Technology Bull 3X Shares shares last traded at $102.33, with a volume of 1,238,339 shares.

Direxion Daily Technology Bull 3X Shares Price Performance

The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. The stock’s 50-day moving average is $111.98 and its 200 day moving average is $118.94.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

A number of large investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $43,000. BankPlus Trust Department purchased a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $47,000. Northwestern Mutual Wealth Management Co. raised its position in Direxion Daily Technology Bull 3X Shares by 99.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the second quarter valued at $59,000. Finally, Kestra Advisory Services LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at $88,000.

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.