Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Stock Price Down 1.8% – Here’s What Happened

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) traded down 1.8% during mid-day trading on Friday . The stock traded as low as $59.47 and last traded at $60.38. Approximately 325,654 shares changed hands during trading, a decline of 40% from the average daily volume of 542,916 shares. The stock had previously closed at $61.50.

Direxion Daily Technology Bear 3X Shares Stock Down 1.8%

The firm’s fifty day moving average is $67.49 and its 200 day moving average is $109.89.

Hedge Funds Weigh In On Direxion Daily Technology Bear 3X Shares

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new stake in Direxion Daily Technology Bear 3X Shares during the 1st quarter valued at approximately $57,000. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily Technology Bear 3X Shares during the second quarter worth approximately $274,000. BTG Pactual Asset Management US LLC acquired a new position in shares of Direxion Daily Technology Bear 3X Shares during the third quarter worth approximately $275,000. Corient Private Wealth LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at approximately $294,000. Finally, Jump Financial LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at approximately $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.