Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $25.20, but opened at $24.38. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $23.49, with a volume of 21,318,899 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 6.0%

The business has a 50-day moving average of $37.13 and a 200-day moving average of $57.33.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. Game Plan Financial Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth about $45,000. Toronto Dominion Bank increased its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $43,000. Tidal Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth about $109,000. Finally, PFG Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth about $75,000.

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.