Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.93, but opened at $6.24. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $5.91, with a volume of 351,006,291 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 4.7%

The company has a fifty day simple moving average of $15.71 and a 200 day simple moving average of $37.21.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at $43,000. Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at $109,000. Modern Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $83,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% during the second quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock valued at $142,000 after purchasing an additional 17,744 shares in the last quarter.

About Direxion Daily Semiconductors Bear 3x Shares

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.