Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Stock Price Breaks Below 50 Day Moving Average – Should You Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $42.56 and traded as low as $41.90. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $42.50, with a volume of 72,152,989 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 11.4%

The firm’s 50-day moving average price is $42.56 and its 200 day moving average price is $166.18.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SOXS. OceanIQ Capital LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $44,000. NewEdge Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $45,000. PCG Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $55,000. Corient Private Wealth LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $78,000. Finally, Tidal Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $117,000.

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.