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

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS)’s stock price were up 1.2% during trading on Friday . The company traded as high as $58.93 and last traded at $58.24. 221,605 shares changed hands during mid-day 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 Trading Up 1.2%

The business has a 50-day moving average price of $69.29 and a 200 day moving average price of $121.67.

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

Several hedge funds and other institutional investors have recently modified their holdings of the business. IMC Chicago LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the first quarter valued at approximately $834,000. Geneos Wealth Management Inc. purchased a new position in Direxion Daily Technology Bear 3X Shares during the 1st quarter worth $57,000. Corient Private Wealth LLC purchased a new position in Direxion Daily Technology Bear 3X Shares during the 4th quarter worth $294,000. Virtu Financial LLC bought a new stake in Direxion Daily Technology Bear 3X Shares during the 4th quarter valued at $958,000. Finally, Jump Financial LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 4th quarter worth $304,000.

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.