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

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

Direxion Daily Technology Bear 3X Shares Stock Up 4.1%

TECS stock traded up $3.04 during trading on Friday, reaching $76.33. 283,959 shares of the company 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 stock’s 50 day moving average price is $71.20 and its 200 day moving average price is $132.25.

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

Several institutional investors have recently modified their holdings of TECS. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 4th quarter worth approximately $958,000. IMC Chicago LLC acquired a new position in Direxion Daily Technology Bear 3X Shares during the first quarter worth $834,000. Tower Research Capital LLC TRC boosted its position in Direxion Daily Technology Bear 3X Shares by 48.9% during 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 in the last quarter. SBI Securities Co. Ltd. boosted its position in Direxion Daily Technology Bear 3X Shares by 93.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 21,343 shares of the company’s stock worth $369,000 after purchasing an additional 10,306 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at $306,000.

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.