Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $39.78, but opened at $42.08. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $42.47, with a volume of 22,275,559 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The business’s 50-day simple moving average is $42.48 and its 200-day simple moving average is $159.60.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $3,126,000. GTS Securities LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $1,109,000. Allworth Financial LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $130,000. Tidal Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $117,000. Finally, Corient Private Wealth LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $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.