Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Climb 5.9% – Time to Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price shot up 5.9% on Tuesday. The company traded as high as $59.24 and last traded at $58.39. 69,426,239 shares changed hands during trading, an increase of 65% from the average daily volume of 42,017,438 shares. The stock had previously closed at $55.15.

Direxion Daily Semiconductors Bear 3X ETF Trading Up 4.9%

The firm has a fifty day simple moving average of $44.24 and a 200-day simple moving average of $148.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. OceanIQ Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $44,000. NewEdge Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth approximately $45,000. PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $55,000. Corient Private Wealth LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $78,000. Finally, Tidal Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $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.