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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped up before the market opened on Tuesday. The stock had previously closed at $46.63, but opened at $48.64. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $49.50, with a volume of 20,490,226 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The stock has a 50 day moving average price of $41.80 and a 200-day moving average price of $78.08.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Several institutional investors have recently bought and sold shares of SOXS. Two Sigma Securities LLC bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth approximately $3,126,000. GTS Securities LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $1,109,000. Allworth Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $130,000. Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $117,000. Finally, Corient Private Wealth LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $78,000.

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.