Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – What’s Next?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $29.63, but opened at $31.55. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $31.51, with a volume of 25,954,870 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock’s 50 day moving average price is $42.52 and its 200 day moving average price is $96.14.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. OceanIQ Capital LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $44,000. NewEdge Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth approximately $45,000. PCG Wealth Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth approximately $55,000. Corient Private Wealth LP bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $78,000. Finally, Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $117,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.