Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Trading 15.3% Higher – Should You Buy?

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) traded up 15.3% during mid-day trading on Thursday . The company traded as high as $175.17 and last traded at $173.13. 406,114 shares traded hands during trading, a decline of 69% from the average daily volume of 1,305,593 shares. The stock had previously closed at $150.12.

Direxion Daily Technology Bull 3X Shares Trading Up 14.0%

The company has a 50 day simple moving average of $209.47 and a 200 day simple moving average of $151.99. The stock has a market capitalization of $5.01 billion, a PE ratio of 36.87 and a beta of 4.11.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TECL. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $76,000. BankPlus Trust Department acquired a new position in Direxion Daily Technology Bull 3X Shares during the fourth quarter worth $47,000. Northwestern Mutual Wealth Management Co. raised its position in Direxion Daily Technology Bull 3X Shares by 99.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Direxion Daily Technology Bull 3X Shares in the fourth quarter worth $88,000. Finally, Wealth Watch Advisors INC acquired a new stake in Direxion Daily Technology Bull 3X Shares in the third quarter valued at $117,000.

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.