Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down before the market opened on Friday . The stock had previously closed at $2.24, but opened at $2.11. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.9980, with a volume of 111,772,058 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 16.5%

The firm has a fifty day moving average of $2.63 and a 200-day moving average of $4.46.

Direxion Daily Semiconductors Bear 3x Shares’s stock is scheduled to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of SOXS. IFP Advisors Inc bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $43,000. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at $45,000. Nwam LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $56,000. Eastern Bank bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $61,000. Finally, PFG Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth approximately $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.