Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 6.9% – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price traded down 6.9% during trading on Tuesday . The stock traded as low as $23.88 and last traded at $23.52. 51,734,741 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 47,197,313 shares. The stock had previously closed at $25.26.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50 day moving average price of $20.27 and a 200 day moving average price of $21.57.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOXS. Optiver Holding B.V. acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at approximately $37,000. PayPay Securities Corp bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $65,000. Edgestream Partners L.P. bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $397,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $498,000. Finally, Corient Private Wealth LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $573,000.

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.