Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Reaches New 12-Month Low – Here’s Why

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $53.59 and last traded at $55.49, with a volume of 535502 shares changing hands. The stock had previously closed at $58.43.

Direxion Daily Technology Bull 3X Shares Stock Performance

The company has a market cap of $2.26 billion, a P/E ratio of 28.55 and a beta of 3.56. The stock has a 50 day moving average price of $79.16 and a 200 day moving average price of $87.33.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a $0.2088 dividend. The ex-dividend date was Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

Several large investors have recently made changes to their positions in TECL. SBI Securities Co. Ltd. acquired a new position in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter worth $21,703,000. EP Wealth Advisors LLC increased its stake in Direxion Daily Technology Bull 3X Shares by 2.1% in the 3rd quarter. EP Wealth Advisors LLC now owns 52,396 shares of the exchange traded fund’s stock worth $4,586,000 after purchasing an additional 1,066 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Direxion Daily Technology Bull 3X Shares by 8,493.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,453 shares of the exchange traded fund’s stock worth $2,848,000 after buying an additional 31,087 shares during the period. Mariner LLC raised its holdings in Direxion Daily Technology Bull 3X Shares by 384.1% during the 4th quarter. Mariner LLC now owns 29,288 shares of the exchange traded fund’s stock worth $2,652,000 after buying an additional 23,238 shares during the period. Finally, Oxinas Partners Wealth Management LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 22.0% during the fourth quarter. Oxinas Partners Wealth Management LLC now owns 23,304 shares of the exchange traded fund’s stock valued at $2,110,000 after buying an additional 4,205 shares in 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.