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

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) shares are set to reverse split before the market opens 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 market closes on Thursday, October 31st.

Direxion Daily Technology Bear 3X Shares Trading Down 2.0 %

Shares of NYSEARCA TECS opened at $5.44 on Friday. Direxion Daily Technology Bear 3X Shares has a one year low of $4.75 and a one year high of $14.86. The firm’s 50 day simple moving average is $55.12 and its two-hundred day simple moving average is $64.11.

Hedge Funds Weigh In On Direxion Daily Technology Bear 3X Shares

Institutional investors and hedge funds have recently made changes to their positions in the business. JFS Wealth Advisors LLC grew its position in Direxion Daily Technology Bear 3X Shares by 120.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 11,000 shares of the company’s stock worth $59,000 after acquiring an additional 6,000 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of Direxion Daily Technology Bear 3X Shares during the second quarter valued at approximately $133,000. Finally, Hamilton Wealth LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares in the first quarter worth approximately $207,000.

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.