Direxion Daily Technology Bear 3X SharesTicker Symbol: TECS
Name of ETF: Direxion Daily Technology Bear 3X Shares
Benchmark Index: S&P Technology Select Sector Index
Ticker Symbol: TECS
Types of Companies Included: Some of the largest and most well-known U.S. companies in the technology sector.
Short ETF: This ETF attempts to produce investment results in the opposite direction of the index. If the S&P Technology Select Sector Index goes up, the ETF is designed to go down. If the S&P Technology Select Sector Index goes down, the ETF is designed to go up.
Leveraged ETF: This ETF is a leveraged ETF which means the ETF attempts to produce daily returns above the daily benchmark index results based on a multiplier. In the case of this ETF, the multiplier is -3x meaning the ETF is attempting to achieve 300% of the opposite performance of the benchmark index.