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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up before the market opened on Tuesday . The stock had previously closed at $3.30, but opened at $3.99. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.88, with a volume of 353,446,468 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s fifty day moving average price is $9.41 and its 200-day moving average price is $31.81.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $43,000. Nwam LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $56,000. Marex Group plc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $63,000. Finally, VestGen Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $81,000.

Direxion Daily Semiconductors Bear 3x Shares 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.