Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down – Should You Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped down before the market opened on Friday . The stock had previously closed at $183.36, but opened at $169.07. Direxion Daily Technology Bull 3X Shares shares last traded at $168.62, with a volume of 401,248 shares trading hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 36.87 and a beta of 4.11. The company’s 50 day simple moving average is $212.46 and its two-hundred day simple moving average is $148.62.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of Direxion Daily Technology Bull 3X Shares by 1.6% in the 3rd quarter. Barclays PLC now owns 6,250 shares of the exchange traded fund’s stock valued at $777,000 after buying an additional 100 shares in the last quarter. West Michigan Advisors LLC raised its position in Direxion Daily Technology Bull 3X Shares by 2.0% during the fourth quarter. West Michigan Advisors LLC now owns 5,100 shares of the exchange traded fund’s stock valued at $599,000 after acquiring an additional 100 shares in the last quarter. Kelly Financial Services LLC raised its position in Direxion Daily Technology Bull 3X Shares by 5.0% during the fourth quarter. Kelly Financial Services LLC now owns 2,244 shares of the exchange traded fund’s stock valued at $264,000 after acquiring an additional 106 shares in the last quarter. Millington Financial Advisors LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 2.7% in the fourth quarter. Millington Financial Advisors LLC now owns 4,656 shares of the exchange traded fund’s stock valued at $500,000 after acquiring an additional 123 shares during the last quarter. Finally, Socha Financial Group LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 4.5% in the fourth quarter. Socha Financial Group LLC now owns 2,960 shares of the exchange traded fund’s stock valued at $348,000 after acquiring an additional 127 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.