Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) Stock Short Interest Jumps 132.1%

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 136,099 shares, a growth of 132.1% from the September 15th total of 58,647 shares. Based on an average trading volume of 432,995 shares, the days-to-cover ratio is presently 0.3 days. Currently, 10.3% of the company’s stock are short sold.

Direxion Daily Technology Bear 3X ETF Trading Up 9.0%

Shares of NYSEARCA TECS traded up $4.62 during trading on Wednesday, reaching $56.20. The company had a trading volume of 693,859 shares, compared to its average volume of 526,050. Direxion Daily Technology Bear 3X ETF has a 12-month low of $46.40 and a 12-month high of $240.40. The business’s 50-day moving average is $58.09 and its 200 day moving average is $84.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Direxion Daily Technology Bear 3X ETF during the first quarter valued at approximately $57,000. IMC Chicago LLC bought a new position in Direxion Daily Technology Bear 3X ETF in the 1st quarter valued at approximately $834,000. Finally, Virtu Financial LLC bought a new position in Direxion Daily Technology Bear 3X ETF in the 4th quarter valued at approximately $958,000.

Direxion Daily Technology Bear 3X ETF 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.