Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Stock Jumps 12.7% – Still a Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) rose 12.7% during trading on Thursday. The company traded as high as $50.38 and last traded at $49.92. 21,965,226 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 38,677,098 shares. The stock had previously closed at $44.29.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The stock has a 50 day moving average price of $42.44 and a two-hundred day moving average price of $71.36.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

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

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.