Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Share Price Cross Above Two Hundred Day Moving Average – Here’s Why

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $89.59 and traded as high as $92.54. Direxion Daily Technology Bull 3X Shares shares last traded at $91.88, with a volume of 1,483,905 shares traded.

Direxion Daily Technology Bull 3X Shares Price Performance

The company has a market capitalization of $3.90 billion, a P/E ratio of 50.15 and a beta of 4.03. The company has a fifty day simple moving average of $94.65 and a two-hundred day simple moving average of $89.59.

Institutional Trading of Direxion Daily Technology Bull 3X Shares

A number of institutional investors and hedge funds have recently modified their holdings of TECL. Farther Finance Advisors LLC boosted its stake in Direxion Daily Technology Bull 3X Shares by 4,000.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 943 shares of the exchange traded fund’s stock valued at $83,000 after purchasing an additional 920 shares during the period. Headlands Technologies LLC raised its position in shares of Direxion Daily Technology Bull 3X Shares by 169.4% during the second quarter. Headlands Technologies LLC now owns 2,427 shares of the exchange traded fund’s stock valued at $236,000 after buying an additional 1,526 shares during the last quarter. Socha Financial Group LLC acquired a new position in shares of Direxion Daily Technology Bull 3X Shares during the third quarter valued at about $243,000. PFG Investments LLC bought a new stake in shares of Direxion Daily Technology Bull 3X Shares in the second quarter valued at about $253,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Direxion Daily Technology Bull 3X Shares during the second quarter worth about $338,000.

Direxion Daily Technology Bull 3X Shares Company 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.