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 Tuesday . The stock had previously closed at $1.76, but opened at $1.85. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.8750, with a volume of 204,655,375 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50 day moving average is $2.42 and its two-hundred day moving average is $4.14.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled to reverse split before the market opens 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

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock valued at $7,177,000 after buying an additional 2,292,689 shares during the last quarter. Smithfield Trust Co bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $4,679,000. HRT Financial LP acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $3,942,000. Lane Generational LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth about $6,309,000. Finally, UBS Group AG lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the 4th 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 last quarter.

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.