Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Still a Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up before the market opened on Friday . The stock had previously closed at $1.76, but opened at $1.8350. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.8350, with a volume of 68,764,543 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 11.9%

The firm has a fifty day simple moving average of $2.80 and a 200-day simple moving average of $4.65.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $45,000. Eastern Bank acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth $61,000. PFG Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth $75,000. Modern Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth about $83,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $94,000.

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.