Investors Buy High Volume of Call Options on Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS)

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) saw unusually large options trading activity on Wednesday. Stock traders bought 4,932 call options on the stock. This is an increase of 818% compared to the average daily volume of 537 call options.

Direxion Daily Technology Bear 3X Shares Stock Up 0.8%

NYSEARCA TECS traded up $0.14 during trading hours on Wednesday, hitting $16.94. The company had a trading volume of 412,550 shares, compared to its average volume of 1,675,169. Direxion Daily Technology Bear 3X Shares has a 52 week low of $14.94 and a 52 week high of $101.82. The firm has a 50 day simple moving average of $17.41 and a 200 day simple moving average of $21.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hamilton Wealth LLC grew its holdings in shares of Direxion Daily Technology Bear 3X Shares by 2,517.3% in the third quarter. Hamilton Wealth LLC now owns 494,407 shares of the company’s stock worth $9,562,000 after purchasing an additional 475,517 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Direxion Daily Technology Bear 3X Shares by 340.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 45,596 shares of the company’s stock worth $882,000 after acquiring an additional 35,246 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Technology Bear 3X Shares by 48.9% in the third quarter. Tower Research Capital LLC TRC now owns 25,570 shares of the company’s stock valued at $495,000 after acquiring an additional 8,399 shares during the period. StoneX Group Inc. bought a new position in shares of Direxion Daily Technology Bear 3X Shares during the second quarter valued at about $393,000. Finally, BTG Pactual Asset Management US LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares during the third quarter valued at about $275,000.

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.