Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading Up 6% – Still a Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price were up 6% on Wednesday . The stock traded as high as $99.10 and last traded at $99.21. Approximately 286,044 shares changed hands during trading, a decline of 76% from the average daily volume of 1,202,121 shares. The stock had previously closed at $93.57.

Direxion Daily Technology Bull 3X Shares Trading Up 7.0 %

The firm’s 50 day moving average price is $94.19 and its two-hundred day moving average price is $88.81. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sollinda Capital Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth approximately $20,933,000. EP Wealth Advisors LLC increased its stake in Direxion Daily Technology Bull 3X Shares by 2.1% in the third quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock valued at $4,586,000 after acquiring an additional 1,066 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $3,956,000. Axxcess Wealth Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 3rd quarter worth $3,473,000. Finally, Stratos Wealth Advisors LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 24,764 shares of the exchange traded fund’s stock worth $2,168,000 after acquiring an additional 232 shares in the last quarter.

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.