Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Down 5.5% – Time to Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXSGet Free Report) was down 5.5% during mid-day trading on Wednesday . The company traded as low as $48.08 and last traded at $48.27. 13,672,588 shares traded hands during trading, a decline of 59% from the average session volume of 33,169,234 shares. The stock had previously closed at $51.10.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The firm has a 50-day moving average price of $47.99 and a 200-day moving average price of $134.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOXS. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter worth approximately $6,178,000. Smithfield Trust Co bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter worth approximately $4,679,000. Two Sigma Securities LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth approximately $3,126,000. UBS Group AG grew its position in Direxion Daily Semiconductors Bear 3X ETF by 217.8% in the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after buying an additional 787,062 shares during the last quarter. Finally, GTS Securities LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth approximately $1,109,000.

Direxion Daily Semiconductors Bear 3X ETF Company Profile

(Get Free Report)

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.

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