Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Up 9.7% – Time to Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shot up 9.7% during mid-day trading on Thursday . The company traded as high as $42.50 and last traded at $42.33. 54,715,941 shares were traded during mid-day trading, an increase of 84% from the average session volume of 29,685,395 shares. The stock had previously closed at $38.60.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The business has a fifty day simple moving average of $2.12 and a two-hundred day simple moving average of $3.76.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $6,178,000. Axxcess Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth approximately $151,000. VestGen Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth approximately $81,000. Toronto Dominion Bank lifted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after buying an additional 95,743 shares during the period. Finally, Jump Financial LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $2,212,000.

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.