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

Shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped up prior to trading on Thursday. The stock had previously closed at $45.32, but opened at $49.71. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $47.05, with a volume of 46,230,477 shares.

Direxion Daily Semiconductors Bear 3X ETF Stock Down 0.2%

The company has a fifty day moving average of $44.22 and a 200 day moving average of $145.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $3,126,000. Formidable Asset Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 3rd quarter valued at about $11,899,000. GTS Securities LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $1,109,000. Allworth Financial LP purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $130,000. Finally, Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $117,000.

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.