Direxion Daily Technology Bear 3X Shares Stock Set to Reverse Split on Wednesday, July 15th (NYSEARCA:TECS)

Shares of Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS) are set to reverse split before the market opens on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 14th.

Direxion Daily Technology Bear 3X Shares Stock Performance

TECS opened at $7.23 on Monday. The stock’s 50 day moving average price is $8.64 and its 200 day moving average price is $14.62. Direxion Daily Technology Bear 3X Shares has a 12 month low of $5.90 and a 12 month high of $27.98.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECS. Two Sigma Securities LLC acquired a new stake in Direxion Daily Technology Bear 3X Shares in the second quarter worth about $274,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Direxion Daily Technology Bear 3X Shares during the 3rd quarter worth about $275,000. Tower Research Capital LLC TRC lifted its stake in shares of Direxion Daily Technology Bear 3X Shares by 48.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 25,570 shares of the company’s stock worth $495,000 after acquiring an additional 8,399 shares during the period. Hamilton Wealth LLC boosted its holdings in shares of Direxion Daily Technology Bear 3X Shares by 2,517.3% in the third quarter. Hamilton Wealth LLC now owns 494,407 shares of the company’s stock valued at $9,562,000 after acquiring an additional 475,517 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Direxion Daily Technology Bear 3X Shares in the fourth quarter valued at approximately $173,000.

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.