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

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down prior to trading on Thursday . The stock had previously closed at $73.15, but opened at $60.23. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $56.36, with a volume of 19,700,046 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 24.3%

The business’s 50-day moving average price is $50.77 and its 200-day moving average price is $220.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after buying an additional 95,743 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $43,000. Tidal Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $109,000. Headlands Technologies LLC grew 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 worth $142,000 after buying an additional 17,744 shares during the last quarter. Finally, Nwam LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $56,000.

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.