Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Sees Large Decrease in Short Interest

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 351,036 shares, a decline of 56.0% from the April 30th total of 798,103 shares. Based on an average daily volume of 4,800,151 shares, the days-to-cover ratio is presently 0.1 days. Approximately 5.2% of the shares of the stock are sold short.

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

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Direxion Daily Technology Bear 3X Shares by 340.5% in the third quarter. EverSource Wealth Advisors LLC now owns 45,596 shares of the company’s stock valued at $882,000 after purchasing an additional 35,246 shares during the last quarter. Hamilton Wealth LLC raised its position in shares of Direxion Daily Technology Bear 3X Shares by 2,517.3% in the third quarter. Hamilton Wealth LLC now owns 494,407 shares of the company’s stock worth $9,562,000 after acquiring an additional 475,517 shares during the period. JFS Wealth Advisors LLC raised its position in shares of Direxion Daily Technology Bear 3X Shares by 100.0% in the third quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock worth $39,000 after acquiring an additional 1,000 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily Technology Bear 3X Shares by 211.4% in the third quarter. SBI Securities Co. Ltd. now owns 11,037 shares of the company’s stock worth $213,000 after acquiring an additional 7,493 shares during the period. Finally, Corient Private Wealth LLC acquired a new position in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter worth about $294,000.

Direxion Daily Technology Bear 3X Shares Stock Performance

Shares of Direxion Daily Technology Bear 3X Shares stock traded down $0.22 on Tuesday, hitting $5.96. 10,219,074 shares of the company traded hands, compared to its average volume of 4,326,942. The stock’s 50 day moving average price is $13.18 and its 200-day moving average price is $16.15. Direxion Daily Technology Bear 3X Shares has a 52 week low of $5.93 and a 52 week high of $34.60.

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.