Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Sets New 1-Year High – What’s Next?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $199.99 and last traded at $197.41, with a volume of 199104 shares changing hands. The stock had previously closed at $193.09.

Direxion Daily Technology Bull 3X Shares Stock Performance

The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 36.87 and a beta of 3.96. The business’s 50 day moving average price is $117.79 and its 200-day moving average price is $119.95.

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

A number of institutional investors have recently modified their holdings of the stock. Gotham Asset Management LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at about $14,636,000. PNC Financial Services Group Inc. raised its stake in shares of Direxion Daily Technology Bull 3X Shares by 14.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 63,020 shares of the exchange traded fund’s stock valued at $5,454,000 after purchasing an additional 8,000 shares in the last quarter. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $6,550,000. Mariner LLC raised its stake in shares of Direxion Daily Technology Bull 3X Shares by 5.3% in the 4th quarter. Mariner LLC now owns 45,805 shares of the exchange traded fund’s stock valued at $5,382,000 after purchasing an additional 2,295 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the 4th quarter valued at about $4,947,000.

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.