Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Stock Price Down 3.8% – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares dropped 3.8% on Wednesday. The stock traded as low as $43.87 and last traded at $45.34. 16,128,400 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 38,538,906 shares. The stock had previously closed at $47.13.

Direxion Daily Semiconductors Bear 3X ETF Trading Up 20.7%

The company has a fifty day moving average price of $42.20 and a two-hundred day moving average price of $71.49.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth approximately $3,126,000. GTS Securities LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $1,109,000. Allworth Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $130,000. Tidal Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at $117,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $78,000.

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.