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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $38.36, but opened at $42.89. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $43.73, with a volume of 25,748,300 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50-day simple moving average is $45.80 and its 200-day simple moving average is $185.54.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock valued at $7,177,000 after buying an additional 2,292,689 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $6,178,000. Smithfield Trust Co bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $4,679,000. HRT Financial LP purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $3,942,000. Finally, UBS Group AG raised its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% in 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 during 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.