Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Hits New 12-Month Low – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $22.32 and last traded at $22.42, with a volume of 73701036 shares traded. The stock had previously closed at $23.69.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 0.5%

The company’s 50-day simple moving average is $36.00 and its 200 day simple moving average is $55.55.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently bought and sold shares of SOXS. Tower Research Capital LLC TRC grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the fourth 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 acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $6,178,000. Smithfield Trust Co acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $4,679,000. HRT Financial LP acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $3,942,000. Finally, Lane Generational LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $6,309,000.

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.