Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Reaches New 12-Month Low – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.66 and last traded at $1.8050, with a volume of 208868279 shares. The stock had previously closed at $1.82.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 5.8%

The company’s 50-day moving average is $2.57 and its 200-day moving average is $4.36.

Shares of Direxion Daily Semiconductors Bear 3x Shares are going to reverse split on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXS. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $43,000. Game Plan Financial Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at approximately $45,000. Nwam LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at approximately $56,000. PFG Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $75,000. Finally, Modern Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $83,000.

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.