Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Up 6.9% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares were up 6.9% on Wednesday . The stock traded as high as $45.86 and last traded at $45.77. 11,079,601 shares traded hands during trading, a decline of 55% from the average daily volume of 24,780,131 shares. The stock had previously closed at $42.80.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The business’s 50-day simple moving average is $5.92 and its 200-day simple moving average is $26.01.

Institutional Inflows and Outflows

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