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

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 58,647 shares, a decline of 71.3% from the August 31st total of 204,353 shares. Based on an average trading volume of 385,282 shares, the short-interest ratio is currently 0.2 days. Approximately 4.6% of the company’s stock are sold short.

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

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Direxion Daily Technology Bear 3X ETF in the fourth quarter worth approximately $958,000. IMC Chicago LLC bought a new stake in Direxion Daily Technology Bear 3X ETF in the first quarter worth approximately $834,000. Finally, Geneos Wealth Management Inc. bought a new stake in Direxion Daily Technology Bear 3X ETF in the first quarter worth approximately $57,000.

Direxion Daily Technology Bear 3X ETF Trading Down 2.5%

Shares of NYSEARCA TECS traded down $1.30 during mid-day trading on Friday, reaching $51.40. The company had a trading volume of 601,219 shares, compared to its average volume of 533,638. Direxion Daily Technology Bear 3X ETF has a twelve month low of $50.95 and a twelve month high of $240.40. The stock’s 50 day moving average is $64.09 and its 200-day moving average is $96.04.

About Direxion Daily Technology Bear 3X ETF

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.