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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up before the market opened on Friday . The stock had previously closed at $40.09, but opened at $43.4150. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $42.0499, with a volume of 30,968,269 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm has a fifty day simple moving average of $41.81 and a two-hundred day simple moving average of $73.79.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently added to or reduced their stakes in SOXS. Tower Research Capital LLC TRC raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $6,178,000. Smithfield Trust Co purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $4,679,000. HRT Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $3,942,000. Finally, Lane Generational LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth about $6,309,000.

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. 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.