Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.08, but opened at $3.38. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.96, with a volume of 184,765,125 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 16.8%

The stock’s fifty day simple moving average is $8.73 and its 200-day simple moving average is $31.22.

Direxion Daily Semiconductors Bear 3x Shares shares are set to reverse split on the morning of Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 14th.

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

Several hedge funds and other institutional investors have recently modified their holdings of SOXS. Toronto Dominion Bank increased its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after acquiring an additional 95,743 shares during the period. IFP Advisors Inc bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $43,000. Nwam LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $56,000. Marex Group plc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $63,000. Finally, VestGen Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $81,000.

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.