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

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS)’s stock is scheduled to reverse split on the morning of 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

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 company’s 50-day simple moving average is $55.12 and its 200 day simple moving average is $64.11.

Institutional Trading of Direxion Daily Technology Bear 3X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in TECS. Hamilton Wealth LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares during the 1st quarter valued at about $207,000. Magnolia Capital Advisors LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares in the second quarter worth approximately $133,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Direxion Daily Technology Bear 3X Shares by 120.0% during 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.

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.