Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Reaches New 1-Year Low – What’s Next?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) reached a new 52-week low during trading on Tuesday . The company traded as low as $1.62 and last traded at $1.6550, with a volume of 346006673 shares traded. The stock had previously closed at $1.74.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $3.99.

Direxion Daily Semiconductors Bear 3x Shares’s stock is set to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently added to or reduced their stakes in the company. Ballew Advisors Inc increased its position in Direxion Daily Semiconductors Bear 3x Shares by 2.3% during the 3rd quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock worth $636,000 after buying an additional 2,766 shares during the period. PayPay Securities Corp grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 53.9% in the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock valued at $105,000 after acquiring an additional 7,098 shares in the last quarter. Game Plan Financial Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $45,000. Vontobel Holding Ltd. increased its position in Direxion Daily Semiconductors Bear 3x Shares by 78.6% during the third quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock worth $134,000 after acquiring an additional 11,400 shares during the period. Finally, IFP Advisors Inc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $43,000.

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.