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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down before the market opened on Wednesday . The stock had previously closed at $9.93, but opened at $9.30. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $9.03, with a volume of 69,019,516 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock’s 50 day moving average price is $25.57 and its 200-day moving average price is $44.25.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $6,178,000. Axxcess Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $151,000. VestGen Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $81,000. Toronto Dominion Bank lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after acquiring an additional 95,743 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $2,212,000.

Direxion Daily Semiconductors Bear 3x Shares Company Profile

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.