Direxion Daily Semiconductors Bear 3x Shares Sees Unusually Large Options Volume (NYSEARCA:SOXS)

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) saw some unusual options trading on Wednesday. Investors bought 162,485 call options on the stock. This is an increase of approximately 59% compared to the typical daily volume of 102,091 call options.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 13.2%

Shares of SOXS traded up $0.26 during trading hours on Wednesday, reaching $2.23. 1,067,070,917 shares of the company traded hands, compared to its average volume of 468,955,781. The stock’s fifty day moving average price is $2.71 and its 200 day moving average price is $4.55. Direxion Daily Semiconductors Bear 3x Shares has a 12-month low of $1.72 and a 12-month high of $53.43.

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

Institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $45,000. Nwam LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $56,000. Eastern Bank purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth approximately $61,000. PFG Investments LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $75,000. Finally, Modern Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $83,000.

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.