Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 8.6% – Should You Sell?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) traded down 8.6% on Thursday . The stock traded as low as $3.30 and last traded at $3.4350. 96,057,563 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 157,598,234 shares. The stock had previously closed at $3.76.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The business has a 50-day simple moving average of $3.62 and a two-hundred day simple moving average of $5.98.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Large investors have recently modified their holdings of the stock. Jump Financial LLC grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 7.3% in the 1st quarter. Jump Financial LLC now owns 192,109 shares of the company’s stock valued at $5,569,000 after buying an additional 13,009 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 277.8% in the first 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. Howard Financial Services LTD. acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at about $245,000. Ballew Advisors Inc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth about $896,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 452.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,873 shares of the company’s stock valued at $1,012,000 after purchasing an additional 111,300 shares during the period.

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. 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.