Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sets New 1-Year Low – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.66 and last traded at $1.8050, with a volume of 208868279 shares changing hands. The stock had previously closed at $1.82.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 5.8%

The stock’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $4.36.

Direxion Daily Semiconductors Bear 3x Shares shares are scheduled to reverse split 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 hedge funds have recently made changes to their positions in SOXS. Vontobel Holding Ltd. bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at approximately $114,000. Simplex Trading LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at $3,970,000. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 356.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 175,330 shares of the company’s stock worth $1,383,000 after purchasing an additional 136,921 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth $564,000.

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.