Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Share Price Cross Above Fifty Day Moving Average – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $102.39 and traded as high as $134.62. Direxion Daily Technology Bull 3X Shares shares last traded at $134.18, with a volume of 1,033,622 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Up 0.5%

The firm has a market cap of $4.66 billion, a P/E ratio of 36.87 and a beta of 3.71. The business’s fifty day simple moving average is $102.39 and its 200-day simple moving average is $116.77.

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

Large investors have recently added to or reduced their stakes in the company. BankPlus Trust Department bought a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $47,000. Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Technology Bull 3X Shares by 99.7% in the 2nd 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 during the last quarter. Kestra Advisory Services LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $88,000. Wealth Watch Advisors INC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 3rd quarter worth $117,000. Finally, Raymond James Financial Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares in the 2nd quarter worth $94,000.

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.