Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Still a Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Tuesday . The stock had previously closed at $1.76, but opened at $1.85. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.8750, with a volume of 204,655,375 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 0.3%

The firm’s 50-day moving average price is $2.46 and its 200-day moving average price is $4.20.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled to reverse split on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several large investors have recently made changes to their positions in SOXS. Tower Research Capital LLC TRC boosted its stake in 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 valued at $7,177,000 after buying an additional 2,292,689 shares during the last quarter. Smithfield Trust Co purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $4,679,000. HRT Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $3,942,000. Lane Generational LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $6,309,000. Finally, UBS Group AG lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 217.8% during the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock valued at $3,595,000 after purchasing an additional 787,062 shares during the last quarter.

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.