Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Strong Trading Volume – Should You Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares saw unusually-high trading volume on Wednesday. Approximately 42,534,589 shares traded hands during trading, an increase of 1% from the average daily volume of 42,129,516 shares. The stock last traded at $47.76 and had previously closed at $55.36.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 24.1%

The company has a fifty day moving average price of $44.36 and a two-hundred day moving average price of $146.85.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $3,126,000. Formidable Asset Management LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the 3rd quarter worth $11,899,000. GTS Securities LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth $1,109,000. Allworth Financial LP bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $130,000. Finally, Tidal Investments LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $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.