Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Unusually-High Trading Volume – Time to Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) saw strong trading volume on Thursday . 72,827,292 shares were traded during trading, a decline of 24% from the previous session’s volume of 95,592,820 shares.The stock last traded at $8.43 and had previously closed at $8.54.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The business’s 50 day moving average price is $23.74 and its 200 day moving average price is $43.18.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of SOXS. Tower Research Capital LLC TRC increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $6,178,000. Smithfield Trust Co purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $4,679,000. HRT Financial LP purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $3,942,000. Finally, Lane Generational LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $6,309,000.

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.