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

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

Direxion Daily Technology Bear 3X Shares Price Performance

TECS stock traded down $0.18 during trading on Friday, reaching $7.05. 7,302,428 shares of the company traded hands, compared to its average volume of 5,110,306. Direxion Daily Technology Bear 3X Shares has a 12 month low of $5.90 and a 12 month high of $32.38. The business has a 50 day simple moving average of $10.74 and a 200 day simple moving average of $15.42.

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

Institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its position in 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 purchasing an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Direxion Daily Technology Bear 3X Shares in the first quarter valued at about $57,000. CWA Asset Management Group LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at about $173,000. Two Sigma Securities LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the second quarter valued at about $274,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the third quarter valued at about $275,000.

About Direxion Daily Technology Bear 3X Shares

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.