Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Up 5.9% – Still a Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) traded up 5.9% during mid-day trading on Tuesday. The stock traded as high as $59.24 and last traded at $58.39. 69,426,239 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 42,017,438 shares. The stock had previously closed at $55.15.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 4.9%

The stock has a 50 day simple moving average of $44.24 and a two-hundred day simple moving average of $148.53.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Formidable Asset Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the third quarter valued at about $11,899,000. Tidal Investments LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at $117,000. NewEdge Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $45,000. Allworth Financial LP acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth about $130,000. Finally, Corient Private Wealth LP acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $78,000.

Direxion Daily Semiconductors Bear 3X ETF 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.