Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Hits New 1-Year Low – Time to Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $31.29 and last traded at $31.56, with a volume of 73349300 shares traded. The stock had previously closed at $33.08.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The company’s 50-day moving average price is $45.65 and its two-hundred day moving average price is $111.44.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the fourth quarter worth about $6,178,000. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth $3,126,000. GTS Securities LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth about $1,109,000. Allworth Financial LP purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $130,000. Finally, Tidal Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at approximately $117,000.

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.