Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Trading Down 4.3% – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares were down 4.3% during trading on Tuesday . The stock traded as low as $33.67 and last traded at $33.81. Approximately 41,278,311 shares traded hands during trading, an increase of 22% from the average session volume of 33,944,480 shares. The stock had previously closed at $35.33.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The firm has a 50 day simple moving average of $47.33 and a two-hundred day simple moving average of $124.58.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Institutional investors have recently modified their holdings of the business. OceanIQ Capital LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $44,000. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3X ETF in the fourth quarter valued at about $43,000. NewEdge Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at about $45,000. PCG Wealth Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $55,000. Finally, Corient Private Wealth LP acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $78,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.