Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS – Get Free Report) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 58,647 shares, a drop of 71.3% from the August 31st total of 204,353 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily volume of 385,282 shares, the short-interest ratio is currently 0.2 days.
Direxion Daily Technology Bear 3X ETF Stock Performance
NYSEARCA TECS traded up $1.57 on Monday, reaching $52.97. The stock had a trading volume of 593,598 shares, compared to its average volume of 533,963. Direxion Daily Technology Bear 3X ETF has a 1 year low of $50.95 and a 1 year high of $240.40. The business has a 50 day moving average price of $63.60 and a 200 day moving average price of $95.12.
Institutional Investors Weigh In On Direxion Daily Technology Bear 3X ETF
Several large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Direxion Daily Technology Bear 3X ETF in the first quarter worth approximately $57,000. IMC Chicago LLC bought a new position in Direxion Daily Technology Bear 3X ETF during the first quarter valued at approximately $834,000. Finally, Virtu Financial LLC acquired a new stake in Direxion Daily Technology Bear 3X ETF in the fourth quarter valued at approximately $958,000.
About Direxion Daily Technology Bear 3X ETF
The Direxion Daily Technology Bear 3X Shares (TECS) is an exchange-traded fund that is based on the Technology Select Sector index. The fund provides 3x leveraged inverse exposure to a market-cap-weighted index of US large-cap technology companies. TECS was launched on Dec 17, 2008 and is managed by Direxion.
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