Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 6.9% – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price rose 6.9% on Wednesday . The stock traded as high as $45.86 and last traded at $45.77. 11,079,601 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 24,780,131 shares. The stock had previously closed at $42.80.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50 day moving average price of $5.92 and a 200-day moving average price of $26.01.

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

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares during the period. 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, UBS Group AG grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares during the last quarter.

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.