Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Should You Sell?

by · The Markets Daily

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS – Get Free Report)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $34.43, but opened at $32.82. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $32.60, with a volume of 23,153,832 shares.

Direxion Daily Semiconductors Bear 3X ETF Stock Down 4.6%

The stock’s fifty day simple moving average is $46.12 and its 200-day simple moving average is $116.57.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 4th quarter worth $6,178,000. Two Sigma Securities LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $3,126,000. GTS Securities LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $1,109,000. Allworth Financial LP acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $130,000. Finally, Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $117,000.

About Direxion Daily Semiconductors Bear 3X ETF

(Get Free Report)

Direxion Daily Semiconductor Bear 3x shares seek daily investment results of 300% of the inverse (or opposite) of the price performance of the PHLX Semiconductor Sector Index (Semiconductor Index). The Semiconductor Index measures the performance of the semiconductor subsector of the United States equity market. Component companies are engaged in the design, distribution, manufacture and sale of semiconductors. As of February 18, 2010, the Semiconductor Index included companies with capitalizations between $1.7 billion and $114 billion.

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