Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sets New 12-Month Low – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.77 and last traded at $1.7450, with a volume of 48666609 shares. The stock had previously closed at $1.91.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 5.5%

The firm’s 50-day moving average price is $2.95 and its two-hundred day moving average price is $4.74.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently modified their holdings of SOXS. Game Plan Financial Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at approximately $45,000. Eastern Bank purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at approximately $61,000. PFG Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $75,000. Modern Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $83,000. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $94,000.

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.