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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.76, but opened at $1.85. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.8750, with a volume of 204,655,375 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 0.3%

The stock’s fifty day simple moving average is $2.46 and its 200-day simple moving average is $4.20.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $43,000. Game Plan Financial Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth $45,000. Nwam LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $56,000. Marex Group plc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $63,000. Finally, PFG Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at about $75,000.

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.