Direxion Daily Technology Bear 3X Shares Stock Scheduled to Reverse Split on Monday, November 4th (NYSEARCA:TECS)

Shares of Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) are going to reverse split on Monday, November 4th. The 1-10 reverse split was announced on Friday, October 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, November 1st.

Direxion Daily Technology Bear 3X Shares Trading Down 2.0 %

Shares of TECS stock opened at $5.44 on Friday. Direxion Daily Technology Bear 3X Shares has a twelve month low of $4.75 and a twelve month high of $14.86. The stock has a fifty day simple moving average of $55.12 and a two-hundred day simple moving average of $64.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its holdings in shares of Direxion Daily Technology Bear 3X Shares by 120.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 11,000 shares of the company’s stock valued at $59,000 after purchasing an additional 6,000 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in Direxion Daily Technology Bear 3X Shares during the second quarter valued at approximately $133,000. Finally, Hamilton Wealth LLC bought a new position in Direxion Daily Technology Bear 3X Shares in the first quarter worth approximately $207,000.

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.