Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Up 6.9% – Time to Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) traded up 6.9% during mid-day trading on Wednesday . The stock traded as high as $45.86 and last traded at $45.77. Approximately 11,079,601 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 24,780,131 shares. The stock had previously closed at $42.80.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 13.1%

The stock has a 50-day moving average price of $57.09 and a 200 day moving average price of $252.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock valued at $7,177,000 after buying an additional 2,292,689 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $6,178,000. Smithfield Trust Co purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $4,679,000. HRT Financial LP acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $3,942,000. Finally, UBS Group AG boosted its stake in Direxion Daily Semiconductors Bear 3x Shares by 217.8% during the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares during the period.

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.