Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Stock Price Cross Above Fifty Day Moving Average – Time to Sell?

On December 21, 2024, shares of Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) made a notable move by crossing above the 50-day moving average during trading hours. The stock recorded a 50-day moving average of $93.87 and reached a peak trading price of $97.03 before closing at $95.02. The trading session saw a substantial volume of 1,769,812 shares exchanged.

Direxion Daily Technology Bull 3X Shares Stock Performance

TECL's performance over the last trading day reflects a 4.5% increase. Alongside the 50-day moving average, the stock's 200-day moving average stands at $89.53. The market capitalization of TECL is approximately $4.03 billion, with a price-to-earnings ratio of 50.15 and a beta value of 4.03, indicating a higher volatility compared to the market.

Institutional Investors' Activities

Recent trading activity has seen notable movements from institutional investors in TECL. Stratos Wealth Advisors LLC increased its position by 0.9% during the third quarter, holding 24,764 shares worth about $2,168,000 after purchasing an additional 232 shares. Similarly, Oxinas Partners Wealth Management LLC raised its stake by 3.3%, owning 19,099 shares valued at around $1,672,000 after acquiring 607 more shares in the same period. Farther Finance Advisors LLC made a significant increase of 4,000.0% in its holdings, now owning 943 shares after adding 920 shares. Additionally, EP Wealth Advisors LLC incremented its position by 2.1%, holding 52,396 shares valued at $4,586,000, with a purchase of 1,066 shares. Headlands Technologies LLC also raised its investment by 169.4%, increasing its holdings to 2,427 shares, worth approximately $236,000.

About Direxion Daily Technology Bull 3X Shares

The Direxion Daily Technology Bull 3X Shares (TECL) is an exchange-traded fund (ETF) that seeks to provide three times the daily performance of the Technology Select Sector Index. This fund focuses on a market-cap weighted index specifically tracking large-cap technology companies in the U.S. Launched on December 17, 2008, TECL is overseen by Direxion.

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Direxion, Technology, ETFs