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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.93, but opened at $6.24. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $5.91, with a volume of 351,006,291 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 4.7%

The business has a fifty day moving average price of $15.71 and a 200-day moving average price of $37.21.

Institutional Inflows and Outflows

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