Short Interest in Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Drops By 90.0%

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 120,482 shares, a decline of 90.0% from the June 30th total of 1,206,139 shares. Currently, 11.8% of the shares of the company are short sold. Based on an average daily trading volume, of 953,353 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily Technology Bear 3X Shares Stock Up 4.1%

Direxion Daily Technology Bear 3X Shares stock traded up $3.04 during trading hours on Friday, reaching $76.33. 283,959 shares of the stock were exchanged, compared to its average volume of 582,028. Direxion Daily Technology Bear 3X Shares has a 52-week low of $59.00 and a 52-week high of $260.60. The firm’s 50 day moving average is $71.38 and its 200 day moving average is $132.65.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in Direxion Daily Technology Bear 3X Shares in the first quarter valued at about $57,000. CWA Asset Management Group LLC acquired a new position in Direxion Daily Technology Bear 3X Shares during the 4th quarter worth approximately $173,000. Two Sigma Securities LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares during the 2nd quarter worth approximately $274,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 3rd quarter valued at approximately $275,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at approximately $294,000.

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.