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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.17, but opened at $4.80. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $4.91, with a volume of 182,410,487 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a 50-day moving average of $7.04 and a two-hundred day moving average of $28.57.

Direxion Daily Semiconductors Bear 3x Shares’s stock is scheduled to reverse split on the morning of 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 market closes on Tuesday, July 14th.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $43,000. Tidal Investments LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at $109,000. Modern Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth $83,000. Finally, Headlands Technologies LLC increased its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% during the 2nd quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock worth $142,000 after buying an additional 17,744 shares during 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. 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.