Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Up 9.7% – What’s Next?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shot up 9.7% on Thursday . The stock traded as high as $42.50 and last traded at $42.33. 54,715,941 shares changed hands during mid-day trading, an increase of 84% from the average session volume of 29,685,395 shares. The stock had previously closed at $38.60.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm’s 50-day moving average is $41.81 and its 200 day moving average is $74.27.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 356.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 175,330 shares of the company’s stock worth $1,383,000 after acquiring an additional 136,921 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% during the second quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock worth $2,166,000 after purchasing an additional 272,129 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $564,000. Qube Research & Technologies Ltd increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock valued at $796,000 after buying an additional 100,350 shares during the period. Finally, Lighthouse Investment Partners LLC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 100.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock valued at $473,000 after buying an additional 30,000 shares during the period.

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.