Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Up – Time to Buy?

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped up prior to trading 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 trading hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

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

Institutional Trading of Direxion Daily Technology Bull 3X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in TECL. Kingswood Wealth Advisors LLC purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth about $271,000. James J. Burns & Company LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $364,000. Onyx Bridge Wealth Group LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $226,000. Crescent Grove Advisors LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth $977,000. Finally, Valmark Advisers Inc. acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter worth $201,000.

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.