Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Unusually-High Trading Volume – Still a Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) saw strong trading volume on Wednesday. Approximately 25,101,952 shares were traded during trading, a decline of 33% from the previous session’s volume of 37,342,844 shares. The stock last traded at $39.61 and had previously closed at $37.42.

Direxion Daily Semiconductors Bear 3X ETF Trading Up 11.2%

The business has a fifty day moving average price of $41.70 and a 200-day moving average price of $88.98.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOXS. Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $117,000. NewEdge Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at $45,000. Allworth Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at about $130,000. Corient Private Wealth LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at about $78,000. Finally, PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at approximately $55,000.

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.