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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $49.02, but opened at $51.88. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $52.89, with a volume of 14,972,101 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm has a 50-day simple moving average of $46.18 and a 200-day simple moving average of $161.74.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SOXS. Toronto Dominion Bank grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after buying an additional 95,743 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $43,000. OceanIQ Capital LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth $44,000. PCG Wealth Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth $55,000. Finally, Nwam LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at $56,000.

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.