Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) Shares Shorted: Short Interest Down 71.3% in September

Direxion Daily Technology Bear 3X ETF (NYSEARCA:TECS) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 58,647 shares, a drop of 71.3% from the August 31st total of 204,353 shares. Based on an average daily trading volume, of 385,282 shares, the short-interest ratio is presently 0.2 days. Approximately 4.6% of the company’s stock are short sold.

Institutional Trading of Direxion Daily Technology Bear 3X ETF

Several institutional investors have recently bought and sold shares of TECS. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X ETF in the 4th quarter worth $958,000. IMC Chicago LLC bought a new position in shares of Direxion Daily Technology Bear 3X ETF during the 1st quarter valued at about $834,000. Finally, Geneos Wealth Management Inc. purchased a new position in Direxion Daily Technology Bear 3X ETF during the 1st quarter valued at approximately $57,000.

Direxion Daily Technology Bear 3X ETF Stock Performance

NYSEARCA TECS opened at $51.40 on Friday. The stock’s 50 day moving average is $64.09 and its 200 day moving average is $96.65. Direxion Daily Technology Bear 3X ETF has a twelve month low of $50.95 and a twelve month high of $240.40.

About Direxion Daily Technology Bear 3X ETF

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.