Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 6.3% – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) dropped 6.3% on Friday . The stock traded as low as $2.94 and last traded at $2.9250. Approximately 52,840,706 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 148,767,828 shares. The stock had previously closed at $3.12.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The stock’s 50-day moving average is $3.92 and its 200-day moving average is $6.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ballew Advisors Inc lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 2.3% in the third quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock worth $636,000 after purchasing an additional 2,766 shares during the period. PayPay Securities Corp raised its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 53.9% in the 3rd quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock worth $105,000 after buying an additional 7,098 shares in the last quarter. Eastern Bank bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth $61,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at $45,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 78.6% in the third quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock valued at $134,000 after buying an additional 11,400 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.