Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $23.09, but opened at $26.29. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $25.64, with a volume of 29,324,568 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a 50 day moving average of $25.28 and a two-hundred day moving average of $22.57.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 208.7% during the 4th quarter. Virtu Financial LLC now owns 814,792 shares of the company’s stock worth $18,308,000 after buying an additional 550,886 shares in the last quarter. GTS Securities LLC raised its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 269.2% in the 4th quarter. GTS Securities LLC now owns 339,124 shares of the company’s stock valued at $7,620,000 after acquiring an additional 247,267 shares during the period. Smithfield Trust Co purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $6,636,000. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 899.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 154,251 shares of the company’s stock worth $3,466,000 after purchasing an additional 138,817 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 82.9% in the third quarter. HighTower Advisors LLC now owns 57,151 shares of the company’s stock worth $1,157,000 after acquiring an additional 25,901 shares in the last quarter.

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.