Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Wednesday . The stock had previously closed at $45.13, but opened at $48.57. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $45.37, with a volume of 20,529,525 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 1.0%

The company has a fifty day moving average of $54.97 and a 200-day moving average of $240.48.

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

Several institutional investors have recently bought and sold shares of SOXS. Tower Research Capital LLC TRC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares during the period. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $6,178,000. Smithfield Trust Co purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $4,679,000. HRT Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $3,942,000. Finally, UBS Group AG boosted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock valued at $3,595,000 after purchasing an additional 787,062 shares during the period.

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.