Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – What’s Next?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares gapped down before the market opened on Monday. The stock had previously closed at $49.23, but opened at $43.86. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $44.72, with a volume of 20,861,176 shares changing hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The business has a 50-day moving average of $41.86 and a 200 day moving average of $75.86.

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

Several hedge funds have recently modified their holdings of the company. Two Sigma Securities LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $3,126,000. GTS Securities LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $1,109,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $130,000. Tidal Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $117,000. Finally, Corient Private Wealth LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $78,000.

Direxion Daily Semiconductors Bear 3X ETF 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.