Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 6.6% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares shot up 6.6% during trading on Friday . The company traded as high as $48.87 and last traded at $48.63. 15,144,931 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 26,917,404 shares. The stock had previously closed at $45.61.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 13.0%

The business has a 50 day simple moving average of $52.63 and a two-hundred day simple moving average of $231.57.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in SOXS. Toronto Dominion Bank increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after buying an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $43,000. Nwam LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $56,000. Marex Group plc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $63,000. Finally, VestGen Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $81,000.

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.