Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 4.2% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price traded down 4.2% during mid-day trading on Wednesday . The stock traded as low as $1.73 and last traded at $1.6950. 92,304,363 shares traded hands during trading, a decline of 82% from the average session volume of 516,939,188 shares. The stock had previously closed at $1.77.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 4.8%

The stock’s fifty day moving average price is $2.44 and its 200 day moving average price is $4.16.

Shares of Direxion Daily Semiconductors Bear 3x Shares are set to reverse split on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Advisors Inc. OK purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at about $1,551,000. IMC Chicago LLC boosted its position in Direxion Daily Semiconductors Bear 3x Shares by 300.5% during the 3rd quarter. IMC Chicago LLC now owns 513,684 shares of the company’s stock valued at $2,656,000 after buying an additional 385,412 shares during the period. IHT Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at $7,441,000. Simplex Trading LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth $3,970,000. Finally, Lane Generational LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at about $6,309,000.

About Direxion Daily Semiconductors Bear 3x Shares

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.