Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Short Interest Update

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,266,028 shares, a growth of 260.7% from the May 14th total of 351,036 shares. Currently, 18.6% of the company’s shares are short sold. Based on an average daily volume of 8,220,798 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Direxion Daily Technology Bear 3X Shares

Several hedge funds and other institutional investors have recently modified their holdings of TECS. JFS Wealth Advisors LLC increased its holdings in shares of Direxion Daily Technology Bear 3X Shares by 100.0% during the third quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock valued at $39,000 after acquiring an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the first quarter valued at approximately $57,000. CWA Asset Management Group LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the fourth quarter valued at approximately $173,000. Two Sigma Securities LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the second quarter valued at approximately $274,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the third quarter valued at approximately $275,000.

Direxion Daily Technology Bear 3X Shares Stock Down 11.4%

Shares of NYSEARCA:TECS traded down $0.93 during midday trading on Thursday, reaching $7.23. The company’s stock had a trading volume of 13,526,620 shares, compared to its average volume of 5,089,414. The firm has a 50 day moving average price of $10.99 and a two-hundred day moving average price of $15.48. Direxion Daily Technology Bear 3X Shares has a fifty-two week low of $5.90 and a fifty-two week high of $32.38.

Direxion Daily Technology Bear 3X Shares Company Profile

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.