Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 5.5% – Should You Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were up 5.5% on Friday . The company traded as high as $40.26 and last traded at $40.19. Approximately 15,600,730 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 36,362,082 shares. The stock had previously closed at $38.11.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company’s 50-day moving average is $38.70 and its two-hundred day moving average is $66.75.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Hedge funds have recently made changes to their positions in the business. Ballew Advisors Inc raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 2.3% during the third quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock worth $636,000 after purchasing an additional 2,766 shares in the last quarter. PayPay Securities Corp lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 53.9% in the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock worth $105,000 after purchasing an additional 7,098 shares during the period. Game Plan Financial Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $45,000. Vontobel Holding Ltd. boosted its stake in Direxion Daily Semiconductors Bear 3x Shares by 78.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock valued at $134,000 after purchasing an additional 11,400 shares in the last quarter. Finally, IFP Advisors Inc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $43,000.

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.