Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Strong Trading Volume – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares saw unusually-high trading volume on Wednesday . 18,853,909 shares changed hands during mid-day trading, a decline of 38% from the previous session’s volume of 30,458,709 shares.The stock last traded at $39.63 and had previously closed at $44.03.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a fifty day moving average price of $47.13 and a two-hundred day moving average price of $195.62.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOXS. Smithfield Trust Co bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $4,679,000. PayPay Securities Corp raised its position in Direxion Daily Semiconductors Bear 3x Shares by 169.2% during the 4th quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock worth $171,000 after purchasing an additional 34,320 shares during the last quarter. Capstone Capital Management Ltd bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $252,000. Virtu Financial LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $6,178,000. Finally, Clear Creek Financial Management LLC lifted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 113.3% during the 4th quarter. Clear Creek Financial Management LLC now owns 64,000 shares of the company’s stock worth $200,000 after buying an additional 34,000 shares during the period.

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.