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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up before the market opened on Wednesday . The stock had previously closed at $45.13, but opened at $48.57. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $45.37, with a volume of 20,529,525 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 1.0%

The business has a 50-day moving average of $54.97 and a 200-day moving average of $240.48.

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

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

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.