Traynor Capital Management Inc. Sells 11,655 Shares of Direxion Daily Technology Bull 3X Shares $TECL

Traynor Capital Management Inc. lessened its position in shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) by 10.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 95,701 shares of the exchange traded fund’s stock after selling 11,655 shares during the period. Direxion Daily Technology Bull 3X Shares makes up 0.7% of Traynor Capital Management Inc.’s holdings, making the stock its 28th biggest holding. Traynor Capital Management Inc.’s holdings in Direxion Daily Technology Bull 3X Shares were worth $11,902,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Direxion Daily Technology Bull 3X Shares in the 3rd quarter valued at $43,000. Ameritas Advisory Services LLC bought a new position in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at approximately $53,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Direxion Daily Technology Bull 3X Shares by 99.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 601 shares of the exchange traded fund’s stock valued at $56,000 after acquiring an additional 300 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth $59,000. Finally, Raymond James Financial Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares in the second quarter worth about $94,000.

Direxion Daily Technology Bull 3X Shares Price Performance

NYSEARCA:TECL opened at $129.00 on Thursday. Direxion Daily Technology Bull 3X Shares has a 1 year low of $32.52 and a 1 year high of $155.50. The business has a fifty day simple moving average of $121.26 and a two-hundred day simple moving average of $118.12. The company has a market capitalization of $4.33 billion, a P/E ratio of 36.87 and a beta of 3.66.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were paid a dividend of $8.0376 per share. This represents a $32.15 dividend on an annualized basis and a dividend yield of 24.9%. The ex-dividend date was Wednesday, December 10th.

Direxion Daily Technology Bull 3X Shares 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.