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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.26, but opened at $12.50. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $12.07, with a volume of 42,357,701 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 8.1%

The stock has a 50 day moving average of $30.20 and a 200 day moving average of $47.92.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Game Plan Financial Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth approximately $45,000. IFP Advisors Inc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $43,000. Tidal Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth approximately $109,000. PFG Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth approximately $75,000. Finally, Modern Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth approximately $83,000.

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.