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)’s stock is 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 closing bell on Thursday, October 31st.

Direxion Daily Technology Bear 3X Shares Price Performance

Shares of NYSEARCA TECS 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 1-year low of $4.75 and a 1-year high of $17.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Magnolia Capital Advisors LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares during the second quarter valued at approximately $133,000. Hamilton Wealth LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares during the first quarter valued at approximately $207,000. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares during the first quarter valued at approximately $1,037,000.

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.