Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $2.17, but opened at $2.07. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $2.1250, with a volume of 97,504,126 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 4.4%

The company’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $5.09.

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

Several hedge funds have recently made changes to their positions in the business. Ballew Advisors Inc boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 2.3% during the third quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock worth $636,000 after purchasing an additional 2,766 shares during the last quarter. PayPay Securities Corp increased its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 53.9% in the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock valued at $105,000 after acquiring an additional 7,098 shares during the last quarter. Eastern Bank bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $61,000. Game Plan Financial Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $45,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 78.6% in the third quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock valued at $134,000 after buying an additional 11,400 shares in 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.