Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Down 4.5%

Shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) were down 4.5% on Tuesday . The stock traded as low as $83.31 and last traded at $83.55. Approximately 129,726 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 2,016,705 shares. The stock had previously closed at $87.53.

Direxion Daily Technology Bull 3X Shares Trading Down 7.6 %

The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 50.15 and a beta of 4.03. The stock has a fifty day moving average price of $79.46 and a 200-day moving average price of $82.91.

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

Several large investors have recently made changes to their positions in TECL. Headlands Technologies LLC bought a new stake in Direxion Daily Technology Bull 3X Shares during the first quarter worth about $72,000. Valmark Advisers Inc. bought a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter worth approximately $201,000. Onyx Bridge Wealth Group LLC acquired a new stake in Direxion Daily Technology Bull 3X Shares during the 2nd quarter valued at $226,000. PFG Investments LLC bought a new position in Direxion Daily Technology Bull 3X Shares in the 2nd quarter valued at $253,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in Direxion Daily Technology Bull 3X Shares in the second quarter worth $271,000.

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.