Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) Shares Scheduled 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 closing bell on Thursday, October 31st.

Direxion Daily Technology Bear 3X Shares Price Performance

TECS stock opened at $5.06 on Thursday. The firm has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $6.47. Direxion Daily Technology Bear 3X Shares has a twelve month low of $4.75 and a twelve month high of $16.83.

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

Institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC increased its holdings in Direxion Daily Technology Bear 3X Shares by 120.0% in the third quarter. JFS Wealth Advisors LLC now owns 11,000 shares of the company’s stock valued at $59,000 after buying an additional 6,000 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Direxion Daily Technology Bear 3X Shares in the 2nd quarter worth approximately $133,000. Finally, Hamilton Wealth LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares in the 1st quarter valued at 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.