Direxion Daily Technology Bear 3X ETF
TECS
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York NY United States of America 10019
- IPO Date
- Dec 30, 2008
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily Technology Bear 3X Shares (TECS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 300% of the inverse of the performance of the Technology Select Sector Index, which includes domestic U.S. companies in industries such as software; semiconductors and semiconductor equipment; technology hardware, storage and peripherals; IT services; communications equipment; and electronic equipment, instruments and components. The fund, issued by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC, employs derivatives including swaps and futures to achieve its leveraged inverse exposure to large-cap technology stocks from the S&P 500, with a net expense ratio of 1.00%; it trades on NYSE Arca and targets sophisticated investors seeking short-term bearish bets on the technology sector. Launched on December 17, 2008, TECS operates primarily in the United States with assets under management of approximately $93-105 million and distributes income dividends quarterly, such as $0.16778 in June 2025. The fund's primary service is providing -3x daily leveraged inverse performance to the Technology Select Sector Index (IXTTR) via financial derivatives and short strategies, without direct investment in the index; it features intraday indicative value tracking under TECS.IV and holds positions in instruments like swaps, treasury securities, and other funds for synthetic exposure. TECS complements the Direxion Daily Technology Bull 3X Shares (TECL) as part of Direxion's suite of leveraged and inverse ETFs designed for daily trading rather than long-term holding, with no guarantee of achieving stated objectives due to compounding effects and volatility. Recent operational changes include a 1-for-10 reverse stock split executed on November 4, 2024, to address share price declines, as announced by Direxion on October 11, 2024; additionally, in January 2024, Direxion launched a new ETF Alert Service for automated price and volume notifications via text message. Rafferty Asset Management maintains an Operating Expense Limitation Agreement through September 1, 2026, capping total annual operating expenses at 0.95% of average daily net assets (excluding certain costs), resulting in the current net expense ratio; the fund reported distributions including short-term capital gains in December 2024 and ongoing income dividends into 2025. No major acquisitions, funding rounds, or strategic partnerships specific to TECS were reported in the last 1-2 years.