Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Down 8.9% – What’s Next?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price was down 8.9% during trading on Friday. The stock traded as low as $28.82 and last traded at $28.92. 35,929,078 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 35,735,863 shares. The stock had previously closed at $31.76.

Direxion Daily Semiconductors Bear 3X ETF Stock Down 8.0%

The stock’s 50 day moving average is $45.38 and its 200 day moving average is $108.75.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 4th quarter worth approximately $6,178,000. Allworth Financial LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at $130,000. PCG Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at $55,000. Tidal Investments LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $117,000. Finally, NewEdge Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $45,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.