Recent data from ETF Channel reveals a significant decrease in shares outstanding for the Direxion Daily Technology Bull 3X Shares (Symbol: TECL). Approximately $78.8 million left the fund, marking a 2.5% decline week-over-week, dropping its shares from 35,850,000 to 34,950,000. In today’s trading, key holdings within TECL include Applied Materials, Inc. (Symbol: AMAT), which has risen by about 2%, Palo Alto Networks, Inc. (Symbol: PANW), which has increased by around 0.4%, and Analog Devices, Inc. (Symbol: ADI), up about 0.3%. For more details on its holdings, see the TECL Holdings page.
The accompanying chart illustrates the one-year price performance of TECL against its 200-day moving average:
According to the chart, TECL’s share price fluctuated between a low of $54.80 and a high of $112.78 over the past 52 weeks, with the most recent trade recorded at $90.71. Analyzing the current price in relation to the 200-day moving average can provide valuable insights for investors — learn more about the 200-day moving average.
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Exchange-traded funds, or ETFs, operate similarly to stocks. Instead of purchasing “shares,” investors buy and sell “units.” These units can be easily traded, while also being created or destroyed based on investor demand. Each week, we review changes in shares outstanding to identify ETFs with notable inflows or outflows. The creation of new units necessitates the purchase of underlying holdings, while the destruction of units involves selling them. Consequently, large share flows can significantly affect the individual components held within ETFs.
Click here to discover which 9 other ETFs experienced significant outflows »
Also see:
- Benford’s Law Stocks
- Funds Holding EWHS
- Institutional Holders of BRPA
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
