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 scheduled to reverse split 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 Friday, November 1st.

Direxion Daily Technology Bear 3X Shares Stock Down 2.0 %

Shares of Direxion Daily Technology Bear 3X Shares stock 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 business has a fifty day simple moving average of $55.12 and a 200 day simple moving average of $64.11.

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

A number of institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its stake 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 worth $59,000 after purchasing an additional 6,000 shares during the period. Magnolia Capital Advisors LLC acquired a new position in Direxion Daily Technology Bear 3X Shares in the second quarter valued at about $133,000. Finally, Hamilton Wealth LLC acquired a new position in Direxion Daily Technology Bear 3X Shares in the first quarter valued at about $207,000.

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.