Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS – Get Free Report) dropped 7.6% on Tuesday . The stock traded as low as $42.60 and last traded at $42.83. Approximately 33,940,848 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 32,489,434 shares. The stock had previously closed at $46.34.
Direxion Daily Semiconductors Bear 3x Shares Stock Down 1.9%
The stock’s fifty day simple moving average is $47.53 and its 200-day simple moving average is $146.87.
Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares
Several institutional investors and hedge funds have recently modified their holdings of SOXS. Toronto Dominion Bank raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after acquiring an additional 95,743 shares during the last quarter. OceanIQ Capital LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at $44,000. IFP Advisors Inc purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $43,000. Tidal Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at $109,000. Finally, NewEdge Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at $45,000.
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.
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