Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 6.7% – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares traded down 6.7% on Monday . The company traded as low as $1.83 and last traded at $1.8380. 339,209,347 shares were traded during mid-day trading, a decline of 18% from the average session volume of 412,755,906 shares. The stock had previously closed at $1.97.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 13.2%

The stock’s 50 day simple moving average is $2.69 and its 200 day simple moving average is $4.54.

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

Several hedge funds have recently added to or reduced their stakes in SOXS. Ballew Advisors Inc lifted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 2.3% in the 3rd quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock valued at $636,000 after acquiring an additional 2,766 shares during the last quarter. PayPay Securities Corp lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 53.9% in the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock valued at $105,000 after purchasing an additional 7,098 shares during the last quarter. Eastern Bank purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at approximately $61,000. Game Plan Financial Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $45,000. Finally, Vontobel Holding Ltd. raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 78.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock valued at $134,000 after buying an additional 11,400 shares during the last quarter.

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.