Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares gapped up before the market opened on Tuesday. The stock had previously closed at $37.19, but opened at $40.15. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $38.98, with a volume of 27,025,529 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 13.6%

The company has a 50-day simple moving average of $41.65 and a two-hundred day simple moving average of $86.38.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. OceanIQ Capital LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $44,000. NewEdge Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $45,000. PCG Wealth Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $55,000. Corient Private Wealth LP bought a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $78,000. Finally, Tidal Investments LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $117,000.

Direxion Daily Semiconductors Bear 3X ETF 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.