Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Short Interest Down 56.0% in May

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 351,036 shares, a decline of 56.0% from the April 30th total of 798,103 shares. Currently, 5.2% of the company’s stock are short sold. Based on an average daily trading volume, of 4,800,151 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Direxion Daily Technology Bear 3X Shares

Hedge funds have recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Technology Bear 3X Shares by 100.0% during 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 period. Geneos Wealth Management Inc. acquired a new position in Direxion Daily Technology Bear 3X Shares in the 1st quarter valued at approximately $57,000. CWA Asset Management Group LLC acquired a new position in Direxion Daily Technology Bear 3X Shares in the 4th quarter valued at approximately $173,000. Two Sigma Securities LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the 2nd quarter worth approximately $274,000. Finally, SBI Securities Co. Ltd. lifted its position in Direxion Daily Technology Bear 3X Shares by 211.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 11,037 shares of the company’s stock worth $213,000 after buying an additional 7,493 shares in the last quarter.

Direxion Daily Technology Bear 3X Shares Stock Down 6.7%

Direxion Daily Technology Bear 3X Shares stock traded down $0.48 during mid-day trading on Friday, hitting $6.67. The company’s stock had a trading volume of 11,472,782 shares, compared to its average volume of 4,146,124. Direxion Daily Technology Bear 3X Shares has a 52-week low of $6.60 and a 52-week high of $37.12. The firm’s 50 day moving average is $13.44 and its 200 day moving average is $16.23.

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.