Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Short Interest Update

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,266,028 shares, an increase of 260.7% from the May 14th total of 351,036 shares. Currently, 18.6% of the company’s stock are short sold. Based on an average daily volume of 8,220,798 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Direxion Daily Technology Bear 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Direxion Daily Technology Bear 3X Shares by 340.5% in the third quarter. EverSource Wealth Advisors LLC now owns 45,596 shares of the company’s stock worth $882,000 after purchasing an additional 35,246 shares during the last quarter. Hamilton Wealth LLC raised its stake 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. JFS Wealth Advisors LLC raised its stake in shares of Direxion Daily Technology Bear 3X Shares by 100.0% in the third quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter worth approximately $294,000. Finally, Tower Research Capital LLC TRC raised its stake 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 worth $495,000 after purchasing an additional 8,399 shares during the last quarter.

Direxion Daily Technology Bear 3X Shares Stock Performance

Shares of Direxion Daily Technology Bear 3X Shares stock traded down $0.93 on Thursday, hitting $7.23. The company had a trading volume of 13,526,620 shares, compared to its average volume of 5,089,414. Direxion Daily Technology Bear 3X Shares has a 1 year low of $5.90 and a 1 year high of $32.38. The stock has a 50 day moving average of $10.99 and a 200-day moving average of $15.48.

About Direxion Daily Technology Bear 3X Shares

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.