Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS)’s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $57.64 and traded as high as $67.55. Direxion Daily Technology Bear 3X ETF shares last traded at $65.00, with a volume of 612,654 shares traded.

Direxion Daily Technology Bear 3X ETF Stock Performance

The company’s 50-day moving average is $57.64 and its 200 day moving average is $106.51.

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

A hedge fund recently bought a new position in Direxion Daily Technology Bear 3X ETF stock. Geneos Wealth Management Inc. bought a new stake in shares of Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,785 shares of the company’s stock, valued at approximately $57,000.

Direxion Daily Technology Bear 3X ETF 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.