Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading 6.2% Higher – Still a Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price traded up 6.2% during trading on Tuesday . The stock traded as high as $30.63 and last traded at $30.80. 9,943,078 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 44,327,091 shares. The stock had previously closed at $28.99.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 2.1 %

The company’s 50 day simple moving average is $22.65 and its 200 day simple moving average is $21.79.

Direxion Daily Semiconductors Bear 3x Shares Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were given a $0.1846 dividend. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXS. Optiver Holding B.V. acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $37,000. PayPay Securities Corp acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $65,000. Edgestream Partners L.P. acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth $397,000. Corient Private Wealth LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $573,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 27.3% in the 4th quarter. Vontobel Holding Ltd. now owns 28,425 shares of the company’s stock valued at $639,000 after purchasing an additional 6,095 shares during the period.

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.