Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Reaches New 1-Year Low – Should You Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $1.66 and last traded at $1.8050, with a volume of 208868279 shares trading hands. The stock had previously closed at $1.82.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The business’s 50 day moving average is $2.51 and its two-hundred day moving average is $4.32.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently modified their holdings of the stock. Smithfield Trust Co acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $4,679,000. HRT Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $3,942,000. Lane Generational LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at $6,309,000. IHT Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at about $7,441,000. Finally, UBS Group AG boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% during the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares in the last quarter.

Direxion Daily Semiconductors Bear 3x Shares Company Profile

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.