Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 6.1% – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price shot up 6.1% during mid-day trading on Monday . The stock traded as high as $14.63 and last traded at $14.34. 74,920,056 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 50,827,027 shares. The stock had previously closed at $13.52.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 11.1%

The firm’s fifty day moving average price is $32.43 and its 200-day moving average price is $50.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth approximately $45,000. Toronto Dominion Bank grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $43,000. Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth approximately $109,000. Finally, PFG Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at $75,000.

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.