Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 8.3% – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) dropped 8.3% during mid-day trading on Friday . The company traded as low as $13.50 and last traded at $14.40. Approximately 67,414,273 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 48,303,223 shares. The stock had previously closed at $15.70.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 13.9%

The business’s fifty day moving average is $33.25 and its 200-day moving average is $51.72.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after buying an additional 2,292,689 shares during the period. Virtu Financial LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $6,178,000. Smithfield Trust Co acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $4,679,000. HRT Financial LP acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $3,942,000. Finally, Lane Generational LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $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.