Merit Financial Group LLC Buys New Stake in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)

Merit Financial Group LLC purchased a new position in shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,039 shares of the exchange traded fund’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECL. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at approximately $338,000. Squarepoint Ops LLC purchased a new position in Direxion Daily Technology Bull 3X Shares during the second quarter valued at $3,956,000. Triton Wealth Management PLLC acquired a new stake in shares of Direxion Daily Technology Bull 3X Shares in the third quarter valued at about $960,000. Oxinas Partners Wealth Management LLC increased its stake in shares of Direxion Daily Technology Bull 3X Shares by 3.3% during the third quarter. Oxinas Partners Wealth Management LLC now owns 19,099 shares of the exchange traded fund’s stock worth $1,672,000 after purchasing an additional 607 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 0.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 24,764 shares of the exchange traded fund’s stock worth $2,168,000 after purchasing an additional 232 shares during the last quarter.

Direxion Daily Technology Bull 3X Shares Trading Down 3.2 %

Shares of Direxion Daily Technology Bull 3X Shares stock opened at $97.22 on Friday. Direxion Daily Technology Bull 3X Shares has a twelve month low of $54.80 and a twelve month high of $112.78. The firm’s 50-day moving average price is $94.52 and its 200 day moving average price is $88.76. The firm has a market capitalization of $4.12 billion, a PE ratio of 50.15 and a beta of 4.03.

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.