Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sets New 52-Week Low – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) reached a new 52-week low on Friday . The stock traded as low as $2.77 and last traded at $2.7350, with a volume of 49927002 shares. The stock had previously closed at $3.13.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company’s 50 day moving average is $3.44 and its 200 day moving average is $5.53.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

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