Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Share Price Pass Below 200 Day Moving Average of $67.31

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.31 and traded as low as $65.57. Direxion Daily Technology Bull 3X Shares shares last traded at $65.59, with a volume of 2,506,875 shares traded.

Direxion Daily Technology Bull 3X Shares Stock Down 6.6 %

The stock has a market cap of $2.78 billion, a P/E ratio of 50.15 and a beta of 4.03. The business’s 50-day simple moving average is $76.56 and its two-hundred day simple moving average is $67.31.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 11.7% in 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 purchasing an additional 5,091 shares in the last quarter. Sowell Financial Services LLC raised its stake in Direxion Daily Technology Bull 3X Shares by 12.9% in the third quarter. Sowell Financial Services LLC now owns 41,946 shares of the exchange traded fund’s stock valued at $1,807,000 after purchasing an additional 4,805 shares in the last quarter. TRUE Private Wealth Advisors raised its stake in Direxion Daily Technology Bull 3X Shares by 0.6% in the third quarter. TRUE Private Wealth Advisors now owns 34,691 shares of the exchange traded fund’s stock valued at $1,495,000 after purchasing an additional 192 shares in the last quarter. Group One Trading L.P. raised its stake in Direxion Daily Technology Bull 3X Shares by 98.7% in the third quarter. Group One Trading L.P. now owns 33,112 shares of the exchange traded fund’s stock valued at $1,427,000 after purchasing an additional 16,445 shares in the last quarter. Finally, Ogborne Capital Management LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares in the fourth quarter valued at approximately $1,668,000.

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.