Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 7.4% – Time to Sell?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were down 7.4% during mid-day trading on Tuesday . The stock traded as low as $2.38 and last traded at $2.4450. Approximately 178,777,415 shares were traded during trading, a decline of 39% from the average daily volume of 295,328,625 shares. The stock had previously closed at $2.64.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 8.9%

The business has a fifty day moving average price of $3.40 and a 200 day moving average price of $5.38.

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

Several hedge funds have recently made changes to their positions in the business. Lane Generational LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $6,309,000. IHT Wealth Management LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $7,441,000. Simplex Trading LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth about $3,970,000. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 285.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 676,299 shares of the company’s stock worth $3,496,000 after buying an additional 500,969 shares during the last quarter. Finally, IMC Chicago LLC grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 300.5% in the 3rd quarter. IMC Chicago LLC now owns 513,684 shares of the company’s stock valued at $2,656,000 after acquiring an additional 385,412 shares in the last quarter.

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.