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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.06, but opened at $1.9650. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.95, with a volume of 385,348,559 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $3.77.

Direxion Daily Semiconductors Bear 3x Shares’s stock is 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after acquiring an additional 2,292,689 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $6,178,000. Smithfield Trust Co bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $4,679,000. HRT Financial LP bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $3,942,000. Finally, Lane Generational LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $6,309,000.

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.