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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $54.27, but opened at $58.24. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $60.14, with a volume of 26,450,161 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock’s 50 day moving average is $49.73 and its two-hundred day moving average is $214.57.

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

A number of large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock valued at $7,177,000 after purchasing an additional 2,292,689 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $6,178,000. Smithfield Trust Co purchased a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $4,679,000. HRT Financial LP purchased a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $3,942,000. Finally, UBS Group AG increased its holdings in Direxion Daily Semiconductors Bear 3x Shares by 217.8% in 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 last quarter.

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.