Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 6.3% – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares dropped 6.3% on Friday . The company traded as low as $2.94 and last traded at $2.9250. Approximately 52,840,706 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 148,767,828 shares. The stock had previously closed at $3.12.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $6.70.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $45,000. Eastern Bank purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at $61,000. PFG Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $75,000. Modern Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth about $83,000. Finally, PayPay Securities Corp boosted its position in Direxion Daily Semiconductors Bear 3x Shares by 718.6% during the 2nd quarter. PayPay Securities Corp now owns 13,180 shares of the company’s stock worth $104,000 after acquiring an additional 11,570 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.