Short Interest in Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) Expands By 27.1%

Direxion Daily Technology Bull 3X Shares (NYSEARCA:TECL) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 790,424 shares, a growth of 27.1% from the November 30th total of 621,702 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 990,817 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 990,817 shares, the short-interest ratio is presently 0.8 days. Approximately 2.4% of the company’s shares are sold short.

Direxion Daily Technology Bull 3X Shares Stock Performance

Shares of NYSEARCA TECL opened at $121.18 on Wednesday. The firm has a market cap of $4.04 billion, a P/E ratio of 36.87 and a beta of 3.66. Direxion Daily Technology Bull 3X Shares has a 1 year low of $32.52 and a 1 year high of $155.50. The firm’s 50 day moving average price is $127.63 and its 200 day moving average price is $113.87.

Direxion Daily Technology Bull 3X Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were given a $8.0376 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $32.15 dividend on an annualized basis and a dividend yield of 26.5%.

Hedge Funds Weigh In On Direxion Daily Technology Bull 3X Shares

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

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.