Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Thursday . The stock had previously closed at $36.02, but opened at $37.84. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $38.80, with a volume of 15,456,165 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 8.4%

The firm’s fifty day moving average is $38.21 and its 200-day moving average is $64.51.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXS. Ballew Advisors Inc increased its holdings in Direxion Daily Semiconductors Bear 3x Shares by 2.3% in the 3rd quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock worth $636,000 after purchasing an additional 2,766 shares in the last quarter. PayPay Securities Corp boosted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 53.9% during the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock valued at $105,000 after purchasing an additional 7,098 shares in the last quarter. Game Plan Financial Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at about $45,000. Vontobel Holding Ltd. grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 78.6% during the third quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock worth $134,000 after purchasing an additional 11,400 shares during the last quarter. Finally, IFP Advisors Inc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $43,000.

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.