Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Short Interest Up 260.7% in May

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 1,266,028 shares, a growth 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 currently 0.2 days. Approximately 18.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC lifted its stake in Direxion Daily Technology Bear 3X Shares by 100.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock worth $39,000 after purchasing 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 during the 1st quarter valued at approximately $57,000. CWA Asset Management Group LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares during the 4th quarter valued at approximately $173,000. Two Sigma Securities LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares during the 2nd quarter valued at approximately $274,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares during the 3rd quarter valued at approximately $275,000.

Direxion Daily Technology Bear 3X Shares Trading Down 2.5%

TECS traded down $0.18 during trading on Friday, reaching $7.05. The company’s stock had a trading volume of 7,302,428 shares, compared to its average volume of 5,110,306. The firm has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $15.42. Direxion Daily Technology Bear 3X Shares has a 1 year low of $5.90 and a 1 year high of $32.38.

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.