Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Up 5.5% – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price traded up 5.5% during mid-day trading on Friday . The stock traded as high as $40.26 and last traded at $40.19. 15,600,730 shares were traded during mid-day trading, a decline of 57% from the average session volume of 36,362,082 shares. The stock had previously closed at $38.11.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm’s fifty day moving average is $38.84 and its 200-day moving average is $68.02.

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

Several institutional investors have recently added to or reduced their stakes in SOXS. JPMorgan Chase & Co. lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock worth $2,166,000 after acquiring an additional 272,129 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth $564,000. Qube Research & Technologies Ltd lifted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock worth $796,000 after acquiring an additional 100,350 shares during the period. Lighthouse Investment Partners LLC boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 100.0% in the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock valued at $473,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Group One Trading LLC increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 284.7% during the second quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock worth $1,461,000 after acquiring an additional 137,001 shares during the period.

About Direxion Daily Semiconductors Bear 3x Shares

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.