Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.24, but opened at $3.59. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.83, with a volume of 564,701,534 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $30.27.

Shares of Direxion Daily Semiconductors Bear 3x Shares are going to reverse split on the morning of Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

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

Several hedge funds have recently made changes to their positions in SOXS. Tower Research Capital LLC TRC grew its position in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $6,178,000. Smithfield Trust Co acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $4,679,000. HRT Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at $3,942,000. Finally, UBS Group AG raised its position in Direxion Daily Semiconductors Bear 3x Shares by 217.8% during the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock valued at $3,595,000 after buying an additional 787,062 shares during the period.

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.