Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 15.4% – Time to Sell?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price fell 15.4% during trading on Thursday . The stock traded as low as $51.59 and last traded at $51.60. 627,131 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,583,345 shares. The stock had previously closed at $60.99.

Direxion Daily Technology Bull 3X Shares Stock Performance

The stock has a fifty day simple moving average of $78.39 and a two-hundred day simple moving average of $87.14. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 28.55 and a beta of 3.56.

Direxion Daily Technology Bull 3X Shares Announces Dividend

The firm also recently disclosed 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the 4th quarter valued at about $41,000. Kane Investment Management Inc. purchased a new position in shares of Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $205,000. GFG Capital LLC bought a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter worth about $216,000. Millington Financial Advisors LLC lifted its stake in Direxion Daily Technology Bull 3X Shares by 7.4% during the 4th quarter. Millington Financial Advisors LLC now owns 3,059 shares of the exchange traded fund’s stock valued at $252,000 after acquiring an additional 212 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the fourth quarter valued at approximately $275,000.

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.