Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $97.14, but opened at $100.58. Direxion Daily Technology Bull 3X Shares shares last traded at $100.43, with a volume of 256,093 shares traded.

Direxion Daily Technology Bull 3X Shares Stock Up 4.4 %

The stock has a 50-day moving average of $91.05 and a 200 day moving average of $88.24. The stock has a market cap of $4.30 billion, a PE ratio of 50.15 and a beta of 4.03.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sollinda Capital Management LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the third quarter valued at $20,933,000. Squarepoint Ops LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at about $3,956,000. Axxcess Wealth Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth about $3,473,000. Virtu Financial LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 577.2% during the second quarter. Virtu Financial LLC now owns 27,149 shares of the exchange traded fund’s stock worth $2,644,000 after purchasing an additional 23,140 shares during the last quarter. Finally, Triton Wealth Management PLLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the third quarter valued at approximately $960,000.

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.