Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Reaches New 12-Month Low – Time to Sell?

Shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $31.29 and last traded at $31.56, with a volume of 73349300 shares traded. The stock had previously closed at $33.08.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The company has a 50-day moving average of $44.94 and a 200 day moving average of $108.20.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Hedge funds have recently bought and sold shares of the stock. OceanIQ Capital LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth $44,000. NewEdge Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $45,000. PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $55,000. Corient Private Wealth LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $78,000. Finally, Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $117,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.