Short Interest in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Expands By 37.9%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,072,119 shares, an increase of 37.9% from the February 12th total of 777,441 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 1,111,931 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 1,111,931 shares, the days-to-cover ratio is currently 1.0 days. Currently, 3.2% of the shares of the stock are short sold.

Direxion Daily Technology Bull 3X Shares Price Performance

Direxion Daily Technology Bull 3X Shares stock traded down $2.30 during trading hours on Friday, hitting $95.78. The stock had a trading volume of 1,399,774 shares, compared to its average volume of 1,313,767. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 36.87 and a beta of 3.66. Direxion Daily Technology Bull 3X Shares has a 1-year low of $32.52 and a 1-year high of $155.50. The stock’s fifty day moving average is $110.87 and its two-hundred day moving average is $118.77.

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

Large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily Technology Bull 3X Shares during the third quarter worth about $43,000. BankPlus Trust Department purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 4th quarter worth approximately $47,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 99.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after purchasing an additional 300 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $59,000. Finally, Kestra Advisory Services LLC purchased a new stake in Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at approximately $88,000.

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.