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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Wednesday . The stock had previously closed at $3.24, but opened at $3.59. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.83, with a volume of 564,701,534 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50 day moving average of $8.09 and a 200 day moving average of $30.27.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 14th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently bought and sold shares of SOXS. Group One Trading LLC boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 64.4% during the third quarter. Group One Trading LLC now owns 304,291 shares of the company’s stock worth $1,573,000 after buying an additional 119,167 shares in the last quarter. PayPay Securities Corp lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 169.2% during the 4th quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock valued at $171,000 after acquiring an additional 34,320 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $4,679,000. Hamilton Wealth LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth $536,000. Finally, Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $252,000.

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.