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

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS)’s stock is going 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 Down 2.0 %

Shares of TECS stock opened at $5.44 on Friday. Direxion Daily Technology Bear 3X Shares has a 1 year low of $4.75 and a 1 year 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECS. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily Technology Bear 3X Shares during the first quarter worth approximately $207,000. Magnolia Capital Advisors LLC purchased a new stake in Direxion Daily Technology Bear 3X Shares in the 2nd quarter valued at $133,000. Finally, JFS Wealth Advisors LLC boosted its stake 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 purchasing an additional 6,000 shares during the period.

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.