Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 7% – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares dropped 7% during mid-day trading on Tuesday . The company traded as low as $1.91 and last traded at $1.9150. Approximately 96,817,201 shares changed hands during trading, a decline of 74% from the average daily volume of 371,174,344 shares. The stock had previously closed at $2.06.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock’s fifty day moving average is $2.85 and its two-hundred day moving average is $4.70.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at approximately $45,000. Eastern Bank acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth $61,000. PFG Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $75,000. Modern Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth about $83,000. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $94,000.

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.