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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.27, but opened at $3.53. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.4250, with a volume of 107,515,353 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $8.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOXS. BNP Paribas Financial Markets grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 277.8% during the 1st quarter. BNP Paribas Financial Markets now owns 1,700,000 shares of the company’s stock valued at $49,283,000 after acquiring an additional 1,250,000 shares during the period. Lane Generational LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at approximately $6,309,000. IHT Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at approximately $7,441,000. Simplex Trading LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at approximately $3,970,000. Finally, Capital Advisors Inc. OK bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at approximately $1,551,000.

Direxion Daily Semiconductors Bear 3x Shares 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.