Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Down 18.9% – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) traded down 18.9% on Friday. The stock traded as low as $64.15 and last traded at $65.87. 33,890,068 shares traded hands during trading, a decline of 18% from the average session volume of 41,247,578 shares. The stock had previously closed at $81.22.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 12.9%

The company has a fifty day simple moving average of $43.62 and a 200-day simple moving average of $152.04.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $3,126,000. Formidable Asset Management LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 3rd quarter worth approximately $11,899,000. GTS Securities LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $1,109,000. Allworth Financial LP purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $130,000. Finally, Tidal Investments LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $117,000.

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.