Investors Purchase High Volume of Call Options on Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS)

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the target of unusually large options trading activity on Friday. Stock traders bought 2,825 call options on the stock. This represents an increase of approximately 280% compared to the typical volume of 743 call options.

Shares of TECS traded down $0.82 during mid-day trading on Friday, reaching $31.89. 1,527,964 shares of the company’s stock traded hands, compared to its average volume of 1,377,611. Direxion Daily Technology Bear 3X Shares has a 12 month low of $26.58 and a 12 month high of $93.20. The business’s 50-day moving average price is $31.01 and its 200-day moving average price is $39.87.

Several large investors have recently added to or reduced their stakes in TECS. Morgan Stanley grew its stake in shares of Direxion Daily Technology Bear 3X Shares by 166.9% in the first quarter. Morgan Stanley now owns 3,833 shares of the company’s stock worth $28,000 after purchasing an additional 2,397 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the third quarter valued at $65,000. IFP Advisors Inc acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at $70,000. Trexquant Investment LP acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the second quarter valued at $115,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the third quarter valued at $312,000.

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