Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Shares Gap Down to $81.85

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) gapped down prior to trading on Monday . The stock had previously closed at $81.85, but opened at $80.00. Direxion Daily Technology Bull 3X Shares shares last traded at $80.26, with a volume of 207,329 shares traded.

Direxion Daily Technology Bull 3X Shares Trading Down 2.2 %

The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The stock’s 50-day moving average price is $83.38 and its 200-day moving average price is $82.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TECL. Jump Financial LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $213,000. James J. Burns & Company LLC bought a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $248,000. Ogborne Capital Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $1,668,000. EP Wealth Advisors LLC increased its holdings in shares of Direxion Daily Technology Bull 3X Shares by 11.7% during the fourth quarter. EP Wealth Advisors LLC now owns 48,661 shares of the exchange traded fund’s stock valued at $3,246,000 after acquiring an additional 5,091 shares in the last quarter. Finally, Tucker Asset Management LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 67.3% during the fourth quarter. Tucker Asset Management LLC now owns 7,306 shares of the exchange traded fund’s stock worth $487,000 after buying an additional 2,939 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.