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

Shares of Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) are scheduled 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 Up 0.2 %

Shares of TECS stock opened at $4.92 on Wednesday. The business’s 50 day moving average is $5.72 and its two-hundred day moving average is $6.58. Direxion Daily Technology Bear 3X Shares has a twelve month low of $4.75 and a twelve month high of $17.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TECS. Magnolia Capital Advisors LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares in the 2nd quarter valued at approximately $133,000. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares in the 1st quarter valued at approximately $207,000. Finally, IMC Chicago LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares in the 1st quarter valued at approximately $1,037,000.

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.