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 reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.70 and last traded at $4.76, with a volume of 232613168 shares changing hands. The stock had previously closed at $4.97.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 6.0%

The firm has a fifty day moving average of $14.17 and a 200-day moving average of $35.98.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after buying an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $43,000. Tidal Investments LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $109,000. Modern Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $83,000. Finally, Headlands Technologies LLC boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% during the second quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock worth $142,000 after buying an additional 17,744 shares during the last quarter.

Direxion Daily Semiconductors Bear 3x Shares 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.