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

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $65.40, but opened at $68.60. Direxion Daily Technology Bull 3X Shares shares last traded at $68.72, with a volume of 247,873 shares trading hands.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a market cap of $2.45 billion, a PE ratio of 31.33 and a beta of 3.56. The stock has a fifty day moving average price of $82.13 and a 200 day moving average price of $87.86.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.2088 per share. The ex-dividend date is Tuesday, March 25th.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Direxion Daily Technology Bull 3X Shares by 28.9% in the third quarter. Barclays PLC now owns 7,345 shares of the exchange traded fund’s stock worth $643,000 after buying an additional 1,645 shares during the period. Merit Financial Group LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $275,000. Millington Financial Advisors LLC boosted its stake in shares of Direxion Daily Technology Bull 3X Shares by 7.4% during the fourth quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after purchasing an additional 212 shares during the period. Rovin Capital UT ADV grew its holdings in shares of Direxion Daily Technology Bull 3X Shares by 2.6% in the fourth quarter. Rovin Capital UT ADV now owns 12,103 shares of the exchange traded fund’s stock worth $1,096,000 after purchasing an additional 306 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC increased its stake in Direxion Daily Technology Bull 3X Shares by 22.0% in the 4th quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock worth $2,110,000 after buying an additional 4,205 shares during the period.

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.