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

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up before the market opened on Wednesday . The stock had previously closed at $45.13, but opened at $48.57. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $45.37, with a volume of 20,529,525 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm has a 50 day moving average of $53.45 and a 200-day moving average of $232.83.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors have recently modified their holdings of the company. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $43,000. Tidal Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth $109,000. Vontobel Holding Ltd. increased its holdings in Direxion Daily Semiconductors Bear 3x Shares by 62.9% in the 4th quarter. Vontobel Holding Ltd. now owns 42,200 shares of the company’s stock valued at $132,000 after buying an additional 16,300 shares during the period. Headlands Technologies LLC increased its holdings in Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% in the 2nd quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock valued at $142,000 after buying an additional 17,744 shares during the period. Finally, Nwam LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $56,000.

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.