Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $5.17, but opened at $4.88. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $5.17, with a volume of 156,656,394 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm has a fifty day simple moving average of $19.79 and a two-hundred day simple moving average of $40.31.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $6,178,000. Axxcess Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $151,000. VestGen Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $81,000. Toronto Dominion Bank raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $2,212,000.

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.