Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $38.70, but opened at $42.00. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $39.85, with a volume of 18,245,751 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 1.1%

The stock has a fifty day simple moving average of $39.10 and a two-hundred day simple moving average of $68.23.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $6,178,000. Axxcess Wealth Management LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $151,000. VestGen Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $81,000. Toronto Dominion Bank increased its stake 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 in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $2,212,000.

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.