2024-03-22 17:46:08 ET
Summary
- The Direxion Daily Technology Bull 3X Shares ETF aims to provide three times the daily performance of the Technology Select Sector Index.
- High valuations of major holdings like Microsoft and Apple, constituting over 40% of the index, present significant downside risk.
- TECL's levered exposure to expensive stocks underscores our Sell rating on the fund.
The Direxion Daily Technology Bull 3X Shares ETF ( TECL ) is a leveraged ETF designed to provide three times the daily investment results, before fees and expenses, of the Technology Select Sector Index (IXTTR). Launched on December 17, 2008, TECL seeks to magnify the returns of the technology sector, which encompasses industries such as software, semiconductors, IT services, and telecommunications equipment, among others....
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TECL: This 3x ETF Is A Triple Threat To Our Wealth, Sell Rating Issued