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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $1.72, but opened at $1.83. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.7850, with a volume of 344,708,626 shares.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The stock’s 50 day moving average price is $2.19 and its 200 day moving average price is $3.86.

Shares of Direxion Daily Semiconductors Bear 3x Shares are going 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 closing bell on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 2,292,689 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $6,178,000. Smithfield Trust Co bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $4,679,000. HRT Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $3,942,000. Finally, Lane Generational LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 3rd 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.