Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $48.74, but opened at $45.87. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $45.00, with a volume of 9,804,359 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s fifty day moving average is $38.33 and its 200 day moving average is $62.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at about $1,551,000. Group One Trading LLC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 64.4% during the 3rd quarter. Group One Trading LLC now owns 304,291 shares of the company’s stock worth $1,573,000 after acquiring an additional 119,167 shares during the period. IMC Chicago LLC raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 300.5% in the 3rd quarter. IMC Chicago LLC now owns 513,684 shares of the company’s stock valued at $2,656,000 after acquiring an additional 385,412 shares in the last quarter. Fragasso Financial Advisors Inc bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $141,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth $7,441,000.

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.