Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $50.11, but opened at $45.72. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $44.95, with a volume of 19,367,880 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock has a 50 day moving average of $47.91 and a 200 day moving average of $136.74.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of institutional investors have recently added to or reduced their stakes in SOXS. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter worth $6,178,000. Smithfield Trust Co bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter worth $4,679,000. UBS Group AG increased its stake in shares of Direxion Daily Semiconductors Bear 3X ETF by 217.8% during the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $3,126,000. Finally, GTS Securities LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at $1,109,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.