Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Stock Price Down 5.5% – Should You Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) dropped 5.5% on Wednesday . The stock traded as low as $48.08 and last traded at $48.27. Approximately 13,672,588 shares changed hands during trading, a decline of 59% from the average daily volume of 33,169,234 shares. The stock had previously closed at $51.10.

Direxion Daily Semiconductors Bear 3X ETF Stock Down 5.5%

The company has a 50 day moving average of $47.80 and a two-hundred day moving average of $138.81.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SOXS. Virtu Financial LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter worth $6,178,000. Smithfield Trust Co purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the fourth quarter valued at $4,679,000. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $3,126,000. UBS Group AG grew its position in Direxion Daily Semiconductors Bear 3X ETF by 217.8% during the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares during the period. Finally, GTS Securities LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $1,109,000.

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.