Direxion Daily Technology Bear 3X Shares Target of Unusually High Options Trading (NYSEARCA:TECS)

Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) was the recipient of some unusual options trading on Wednesday. Investors acquired 4,932 call options on the stock. This is an increase of 818% compared to the average daily volume of 537 call options.

Direxion Daily Technology Bear 3X Shares Stock Up 2.9%

Shares of Direxion Daily Technology Bear 3X Shares stock opened at $17.29 on Friday. The company has a 50 day moving average of $17.38 and a 200-day moving average of $21.30. Direxion Daily Technology Bear 3X Shares has a 1-year low of $14.94 and a 1-year high of $101.82.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC increased its holdings in Direxion Daily Technology Bear 3X Shares by 100.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,000 shares of the company’s stock worth $39,000 after purchasing an additional 1,000 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily Technology Bear 3X Shares in the second quarter valued at approximately $274,000. EverSource Wealth Advisors LLC bought a new position in Direxion Daily Technology Bear 3X Shares in the 2nd quarter valued at approximately $277,000. SBI Securities Co. Ltd. raised its holdings in Direxion Daily Technology Bear 3X Shares by 211.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 11,037 shares of the company’s stock valued at $213,000 after buying an additional 7,493 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC acquired a new stake in Direxion Daily Technology Bear 3X Shares during the 3rd quarter worth approximately $275,000.

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.