Short Interest in Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Rises By 272.9%

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 798,103 shares, an increase of 272.9% from the April 15th total of 214,006 shares. Based on an average daily trading volume, of 3,107,235 shares, the short-interest ratio is currently 0.3 days. Approximately 11.8% of the company’s shares are short sold.

Direxion Daily Technology Bear 3X Shares Stock Performance

Shares of Direxion Daily Technology Bear 3X Shares stock traded up $0.43 during mid-day trading on Friday, hitting $8.55. The stock had a trading volume of 6,309,570 shares, compared to its average volume of 3,751,549. The firm has a 50-day moving average of $15.60 and a two-hundred day moving average of $16.81. Direxion Daily Technology Bear 3X Shares has a 12-month low of $8.01 and a 12-month high of $38.36.

Institutional Trading of Direxion Daily Technology Bear 3X Shares

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Direxion Daily Technology Bear 3X Shares by 340.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 45,596 shares of the company’s stock valued at $882,000 after buying an additional 35,246 shares during the period. Hamilton Wealth LLC grew its stake in shares of Direxion Daily Technology Bear 3X Shares by 2,517.3% in the 3rd quarter. Hamilton Wealth LLC now owns 494,407 shares of the company’s stock valued at $9,562,000 after buying an additional 475,517 shares during the period. BTG Pactual Asset Management US LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 3rd quarter valued at approximately $275,000. Corient Private Wealth LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 4th quarter valued at approximately $294,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 4th quarter valued at approximately $306,000.

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.