Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – What’s Next?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down prior to trading on Friday . The stock had previously closed at $25.20, but opened at $24.38. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $23.49, with a volume of 21,318,899 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 8.3%

The company has a 50 day moving average of $37.45 and a two-hundred day moving average of $58.23.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXS. JPMorgan Chase & Co. grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% in 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. Qube Research & Technologies Ltd grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the second quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock worth $796,000 after purchasing an additional 100,350 shares during the period. Lighthouse Investment Partners LLC grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 100.0% in the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock worth $473,000 after purchasing an additional 30,000 shares during the period. Group One Trading LLC grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 284.7% in the second quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock worth $1,461,000 after purchasing an additional 137,001 shares during the period. Finally, IHT Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth $7,441,000.

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.