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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $54.85, but opened at $51.19. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $50.65, with a volume of 17,277,516 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm’s 50 day moving average price is $56.42 and its 200-day moving average price is $248.46.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently bought and sold shares of SOXS. Virtu Financial LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $6,178,000. Axxcess Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $151,000. VestGen Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $81,000. Toronto Dominion Bank lifted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th 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 during the period. Finally, Jump Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $2,212,000.

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.