Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 4.7% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price were down 4.7% during mid-day trading on Tuesday . The stock traded as low as $37.87 and last traded at $37.91. Approximately 28,628,442 shares traded hands during trading, a decline of 17% from the average daily volume of 34,561,883 shares. The stock had previously closed at $39.78.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 7.1%

The stock has a fifty day moving average of $41.40 and a 200 day moving average of $72.51.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $45,000. Toronto Dominion Bank boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $43,000. Tidal Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at about $109,000. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth about $75,000.

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.