Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Stock Price Up 1.2% – Should You Buy?

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) traded up 1.2% during trading on Friday . The company traded as high as $58.93 and last traded at $58.24. Approximately 221,605 shares changed hands during trading, a decline of 61% from the average daily volume of 562,032 shares. The stock had previously closed at $57.56.

Direxion Daily Technology Bear 3X Shares Stock Performance

The stock’s 50 day moving average price is $69.29 and its 200-day moving average price is $121.67.

Hedge Funds Weigh In On Direxion Daily Technology Bear 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares during the fourth quarter worth $958,000. IMC Chicago LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares in the first quarter worth about $834,000. Headlands Technologies LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at approximately $306,000. Jump Financial LLC acquired a new position in Direxion Daily Technology Bear 3X Shares in the 4th quarter worth approximately $304,000. Finally, Corient Private Wealth LLC acquired a new stake in Direxion Daily Technology Bear 3X Shares during the 4th quarter valued at approximately $294,000.

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.