Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sets New 12-Month Low – Should You Sell?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.37 and last traded at $2.3850, with a volume of 232105235 shares trading hands. The stock had previously closed at $2.57.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 8.2%

The stock has a fifty day moving average price of $3.33 and a 200 day moving average price of $5.22.

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

Several hedge funds and other institutional investors have recently made changes to their positions in SOXS. Howard Financial Services LTD. bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth about $245,000. Ballew Advisors Inc purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth about $896,000. Wealth Enhancement Advisory Services LLC lifted its stake in Direxion Daily Semiconductors Bear 3x Shares by 452.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,873 shares of the company’s stock worth $1,012,000 after purchasing an additional 111,300 shares during the last quarter. AFG Fiduciary Services Limited Partnership purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at approximately $307,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at approximately $114,000.

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.