Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 4.2% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price traded down 4.2% during mid-day trading on Wednesday . The company traded as low as $1.73 and last traded at $1.6950. 92,304,363 shares changed hands during trading, a decline of 82% from the average session volume of 516,939,188 shares. The stock had previously closed at $1.77.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 4.8%

The firm has a 50 day simple moving average of $2.44 and a 200 day simple moving average of $4.16.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split on the morning of Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $45,000. IFP Advisors Inc bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $43,000. Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at about $109,000. PFG Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $75,000. Finally, Modern Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth approximately $83,000.

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.