Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Strong Trading Volume – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) saw unusually-high trading volume on Monday. 22,896,388 shares traded hands during mid-day trading, a decline of 34% from the previous session’s volume of 34,866,855 shares. The stock last traded at $34.15 and had previously closed at $32.43.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The firm has a 50-day moving average of $46.51 and a 200-day moving average of $119.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXS. OceanIQ Capital LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at $44,000. IFP Advisors Inc purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter worth $43,000. NewEdge Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth $45,000. PCG Wealth Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $55,000. Finally, Corient Private Wealth LP bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $78,000.

Direxion Daily Semiconductors Bear 3X ETF 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.