Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Short Interest Down 56.0% in May

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 351,036 shares, a decline of 56.0% from the April 30th total of 798,103 shares. Based on an average daily volume of 4,800,151 shares, the days-to-cover ratio is presently 0.1 days. Approximately 5.2% of the shares of the company are short sold.

Direxion Daily Technology Bear 3X Shares Stock Down 7.3%

TECS stock traded down $0.49 during trading on Monday, hitting $6.18. 16,848,637 shares of the company traded hands, compared to its average volume of 4,269,496. The stock’s 50-day simple moving average is $13.18 and its 200 day simple moving average is $16.15. Direxion Daily Technology Bear 3X Shares has a 1 year low of $6.09 and a 1 year high of $35.95.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JFS Wealth Advisors LLC increased its position in shares of Direxion Daily Technology Bear 3X Shares by 100.0% in the third quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock valued at $39,000 after buying an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the first quarter valued at approximately $57,000. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily Technology Bear 3X Shares by 211.4% in the third quarter. SBI Securities Co. Ltd. now owns 11,037 shares of the company’s stock valued at $213,000 after buying an additional 7,493 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Technology Bear 3X Shares by 48.9% in the third quarter. Tower Research Capital LLC TRC now owns 25,570 shares of the company’s stock valued at $495,000 after buying an additional 8,399 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares during the fourth quarter worth approximately $173,000.

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.