Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Up 9.7% – Time to Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were up 9.7% on Thursday . The stock traded as high as $1.81 and last traded at $1.7450. Approximately 433,588,810 shares traded hands during trading, a decline of 18% from the average daily volume of 527,861,125 shares. The stock had previously closed at $1.59.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 12.3%

The company has a 50 day moving average price of $2.25 and a 200-day moving average price of $3.93.

Direxion Daily Semiconductors Bear 3x Shares shares are scheduled to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $45,000. Toronto Dominion Bank raised its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $43,000. Tidal Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at about $109,000. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $75,000.

Direxion Daily Semiconductors Bear 3x Shares 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.