Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Unusually-High Trading Volume – Still a Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares saw strong trading volume on Thursday . Approximately 246,355,907 shares traded hands during trading, an increase of 11% from the previous session’s volume of 222,469,422 shares.The stock last traded at $3.75 and had previously closed at $3.86.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 10.6%

The business has a 50 day simple moving average of $7.79 and a 200-day simple moving average of $29.89.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled to reverse split before the market opens on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after acquiring an additional 2,292,689 shares in the last quarter. Virtu Financial LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $6,178,000. Smithfield Trust Co bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $4,679,000. HRT Financial LP acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $3,942,000. Finally, UBS Group AG boosted its stake in Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 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. 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.