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

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 120,482 shares, a drop of 90.0% from the June 30th total of 1,206,139 shares. Currently, 11.8% of the company’s stock are sold short. Based on an average daily trading volume, of 953,353 shares, the days-to-cover ratio is currently 0.1 days.

Direxion Daily Technology Bear 3X Shares Stock Performance

Shares of TECS stock traded up $3.04 during mid-day trading on Friday, reaching $76.33. 283,959 shares of the company’s stock traded hands, compared to its average volume of 582,028. Direxion Daily Technology Bear 3X Shares has a 12 month low of $59.00 and a 12 month high of $260.60. The company’s 50-day moving average price is $71.20 and its 200-day moving average price is $132.25.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TECS. Virtu Financial LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the fourth quarter worth about $958,000. IMC Chicago LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares during the first quarter valued at approximately $834,000. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily Technology Bear 3X Shares by 48.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 25,570 shares of the company’s stock worth $495,000 after purchasing an additional 8,399 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily Technology Bear 3X Shares by 93.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 21,343 shares of the company’s stock worth $369,000 after purchasing an additional 10,306 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 4th quarter worth 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.