Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Cross Above 200 Day Moving Average – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $89.59 and traded as high as $92.54. Direxion Daily Technology Bull 3X Shares shares last traded at $91.88, with a volume of 1,483,905 shares traded.

Direxion Daily Technology Bull 3X Shares Price Performance

The business’s fifty day simple moving average is $94.65 and its 200 day simple moving average is $89.59. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03.

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

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in shares of Direxion Daily Technology Bull 3X Shares by 4,000.0% during the third quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock worth $83,000 after buying an additional 920 shares during the period. Headlands Technologies LLC boosted its position in Direxion Daily Technology Bull 3X Shares by 169.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock worth $236,000 after acquiring an additional 1,526 shares during the period. PFG Investments LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the second quarter worth $253,000. Socha Financial Group LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the third quarter valued at $243,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the second quarter valued at about $338,000.

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.