Direxion Daily Technology Bear 3X Shares Stock Scheduled 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 Friday, November 1st.

Direxion Daily Technology Bear 3X Shares Stock Performance

Shares of TECS opened at $5.44 on Friday. Direxion Daily Technology Bear 3X Shares has a 12 month low of $4.75 and a 12 month high of $14.86. The stock’s 50-day moving average is $55.12 and its two-hundred day moving average is $64.11.

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

Several hedge funds have recently modified their holdings of TECS. Hamilton Wealth LLC purchased a new position in Direxion Daily Technology Bear 3X Shares in the 1st quarter worth approximately $207,000. Magnolia Capital Advisors LLC acquired a new position in Direxion Daily Technology Bear 3X Shares in the 2nd quarter worth $133,000. Finally, JFS Wealth Advisors LLC lifted its holdings in 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 worth $59,000 after buying an additional 6,000 shares in 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.