359,705 Shares in Direxion Daily Semiconductors Bear 3X ETF $SOXS Purchased by Formidable Asset Management LLC

Formidable Asset Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 359,705 shares of the company’s stock, valued at approximately $11,899,000. Direxion Daily Semiconductors Bear 3X ETF comprises 1.7% of Formidable Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Formidable Asset Management LLC owned approximately 0.38% of Direxion Daily Semiconductors Bear 3X ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SOXS. Allworth Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $130,000. Corient Private Wealth LP acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $78,000. Tidal Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $117,000. PCG Wealth Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $55,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $45,000.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 12.6%

Direxion Daily Semiconductors Bear 3X ETF stock opened at $70.95 on Friday. The stock has a fifty day moving average price of $44.13 and a 200 day moving average price of $150.23. Direxion Daily Semiconductors Bear 3X ETF has a 52 week low of $28.46 and a 52 week high of $1,030.00.

About Direxion Daily Semiconductors Bear 3X ETF

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.