Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down prior to trading on Monday . The stock had previously closed at $4.51, but opened at $4.11. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.89, with a volume of 119,165,804 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50-day simple moving average is $7.27 and its 200-day simple moving average is $29.02.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SOXS. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $6,178,000. Smithfield Trust Co bought 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 shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $3,942,000. Finally, UBS Group AG grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the fourth 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 during the last quarter.

About Direxion Daily Semiconductors Bear 3x Shares

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.