Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Stock Price Down 3.8% – Here’s What Happened

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price traded down 3.8% during trading on Wednesday. The company traded as low as $43.87 and last traded at $45.34. 16,128,400 shares were traded during trading, a decline of 58% from the average session volume of 38,538,906 shares. The stock had previously closed at $47.13.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock has a fifty day moving average price of $41.86 and a two-hundred day moving average price of $75.86.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

Several institutional investors have recently added to or reduced their stakes in SOXS. Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $130,000. Corient Private Wealth LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $78,000. Tidal Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $117,000. PCG Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $55,000. Finally, NewEdge Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth about $45,000.

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.