Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 9.7% – Should You Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shot up 9.7% on Thursday . The stock traded as high as $1.81 and last traded at $1.7450. 433,588,810 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 527,861,125 shares. The stock had previously closed at $1.59.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 4.1%

The stock’s 50 day moving average is $2.19 and its two-hundred day moving average is $3.88.

Direxion Daily Semiconductors Bear 3x Shares’s stock is going 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 market closes on Wednesday, March 4th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SOXS. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $6,178,000. Axxcess Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $151,000. VestGen Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $81,000. Toronto Dominion Bank boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after buying an additional 95,743 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $2,212,000.

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.