Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped up prior to trading on Tuesday. The stock had previously closed at $46.63, but opened at $48.64. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $49.50, with a volume of 20,490,226 shares.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 1.0%

The stock’s fifty day moving average is $41.80 and its 200 day moving average is $78.08.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of large investors have recently added to or reduced their stakes in the company. OceanIQ Capital LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at $44,000. NewEdge Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $45,000. PCG Wealth Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $55,000. Corient Private Wealth LP purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $78,000. Finally, Tidal Investments LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $117,000.

Direxion Daily Semiconductors Bear 3X ETF 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.