Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 7.4% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) fell 7.4% during trading on Tuesday . The stock traded as low as $2.38 and last traded at $2.4450. 178,777,415 shares traded hands during trading, a decline of 39% from the average session volume of 295,328,625 shares. The stock had previously closed at $2.64.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a 50-day simple moving average of $3.40 and a two-hundred day simple moving average of $5.38.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of SOXS. Game Plan Financial Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at about $45,000. Eastern Bank acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at approximately $61,000. PFG Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $75,000. Modern Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at about $83,000. Finally, PayPay Securities Corp grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 718.6% in the second quarter. PayPay Securities Corp now owns 13,180 shares of the company’s stock valued at $104,000 after acquiring an additional 11,570 shares in the last quarter.

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.