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

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 58,647 shares, a decrease of 71.3% from the August 31st total of 204,353 shares. Currently, 4.6% of the company’s shares are sold short. Based on an average daily volume of 385,282 shares, the short-interest ratio is presently 0.2 days.

Direxion Daily Technology Bear 3X ETF Stock Performance

Shares of TECS opened at $51.40 on Friday. The business has a fifty day moving average of $64.09 and a 200 day moving average of $96.65. Direxion Daily Technology Bear 3X ETF has a 52-week low of $50.95 and a 52-week high of $240.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC bought a new position in Direxion Daily Technology Bear 3X ETF in the 1st quarter worth about $834,000. Geneos Wealth Management Inc. purchased a new position in shares of Direxion Daily Technology Bear 3X ETF in the 1st quarter valued at $57,000. Finally, Virtu Financial LLC bought a new position in Direxion Daily Technology Bear 3X ETF in the fourth quarter worth about $958,000.

About Direxion Daily Technology Bear 3X ETF

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.