Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – What’s Next?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped up prior to trading on Thursday . The stock had previously closed at $43.24, but opened at $46.52. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $47.19, with a volume of 22,067,450 shares changing hands.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 5.6%

The business has a 50-day moving average price of $47.54 and a two-hundred day moving average price of $144.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Direxion Daily Semiconductors Bear 3X ETF by 11,545.6% during the second quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock worth $2,166,000 after buying an additional 272,129 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Direxion Daily Semiconductors Bear 3X ETF by 16,725.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock valued at $796,000 after buying an additional 100,350 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in shares of Direxion Daily Semiconductors Bear 3X ETF by 100.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock worth $473,000 after acquiring an additional 30,000 shares during the period. Group One Trading LLC lifted its holdings in shares of Direxion Daily Semiconductors Bear 3X ETF by 284.7% during the 2nd quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock worth $1,461,000 after acquiring an additional 137,001 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth approximately $109,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.