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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.65, but opened at $3.97. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $4.28, with a volume of 175,723,845 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The business’s 50-day simple moving average is $6.07 and its two-hundred day simple moving average is $26.40.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split on 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 closing bell on Tuesday, July 14th.

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

Several hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its position in 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 worth $36,000 after acquiring an additional 95,743 shares during the last quarter. IFP Advisors Inc acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $43,000. Nwam LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $56,000. Marex Group plc bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $63,000. Finally, VestGen Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $81,000.

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.