Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Large Volume Increase – Should You Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares saw strong trading volume on Monday . Approximately 23,613,212 shares changed hands during trading, a decline of 28% from the previous session’s volume of 32,998,098 shares.The stock last traded at $50.74 and had previously closed at $44.14.

Direxion Daily Semiconductors Bear 3X ETF Stock Down 1.2%

The stock has a fifty day simple moving average of $47.80 and a 200-day simple moving average of $138.81.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 4th quarter worth about $43,000. OceanIQ Capital LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at about $44,000. NewEdge Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at about $45,000. PCG Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $55,000. Finally, Corient Private Wealth LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $78,000.

Direxion Daily Semiconductors Bear 3X ETF 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.