PNC Financial Services Group Inc. Decreases Stock Position in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)

PNC Financial Services Group Inc. cut its stake in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,930 shares of the exchange traded fund’s stock after selling 290 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Direxion Daily Technology Bull 3X Shares were worth $5,427,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TECL. SBI Securities Co. Ltd. purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $21,703,000. Larson Financial Group LLC lifted its holdings in shares of Direxion Daily Technology Bull 3X Shares by 1,753.3% during the third quarter. Larson Financial Group LLC now owns 6,746 shares of the exchange traded fund’s stock valued at $591,000 after purchasing an additional 6,382 shares in the last quarter. Plotkin Financial Advisors LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares during the third quarter valued at $451,000. Oxinas Partners Wealth Management LLC lifted its holdings in Direxion Daily Technology Bull 3X Shares by 22.0% in 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 acquiring an additional 4,205 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth about $275,000.

Direxion Daily Technology Bull 3X Shares Trading Up 4.7 %

NYSEARCA:TECL opened at $63.90 on Thursday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 31.33 and a beta of 3.56. The stock has a 50-day moving average price of $87.06 and a 200 day moving average price of $88.73. Direxion Daily Technology Bull 3X Shares has a 12-month low of $54.80 and a 12-month high of $112.78.

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.