Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 8.6% – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price dropped 8.6% during mid-day trading on Thursday . The stock traded as low as $3.30 and last traded at $3.4350. Approximately 96,057,563 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 157,598,234 shares. The stock had previously closed at $3.76.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 7.6%

The firm has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $6.07.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 277.8% in the 1st quarter. BNP Paribas Financial Markets now owns 1,700,000 shares of the company’s stock worth $49,283,000 after purchasing an additional 1,250,000 shares during the period. Lane Generational LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $6,309,000. IHT Wealth Management LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at approximately $7,441,000. Simplex Trading LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth $3,970,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 285.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 676,299 shares of the company’s stock valued at $3,496,000 after purchasing an additional 500,969 shares during 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.