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

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 204,353 shares, a growth of 56.8% from the August 15th total of 130,317 shares. Currently, 22.2% of the shares of the stock are short sold. Based on an average daily volume of 338,893 shares, the short-interest ratio is currently 0.6 days.

Direxion Daily Technology Bear 3X ETF Trading Down 6.8%

Shares of NYSEARCA TECS opened at $59.34 on Friday. The firm has a 50-day simple moving average of $66.21 and a 200-day simple moving average of $101.69. Direxion Daily Technology Bear 3X ETF has a 52 week low of $56.64 and a 52 week high of $240.40.

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

A number of large investors have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new stake in Direxion Daily Technology Bear 3X ETF during the first quarter worth $834,000. Geneos Wealth Management Inc. acquired a new position in shares of Direxion Daily Technology Bear 3X ETF in the 1st quarter valued at $57,000. Finally, Virtu Financial LLC purchased a new position in shares of Direxion Daily Technology Bear 3X ETF during the 4th quarter worth $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.