Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 8.4% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were down 8.4% on Wednesday . The stock traded as low as $3.36 and last traded at $3.3450. Approximately 165,413,802 shares were traded during trading, an increase of 28% from the average daily volume of 129,029,969 shares. The stock had previously closed at $3.65.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 11.1%

The business has a 50 day moving average of $5.12 and a 200 day moving average of $8.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 277.8% during the first quarter. BNP Paribas Financial Markets now owns 1,700,000 shares of the company’s stock worth $49,283,000 after purchasing an additional 1,250,000 shares in the last quarter. Lane Generational LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth approximately $6,309,000. IHT Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at about $7,441,000. Simplex Trading LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth approximately $3,970,000. Finally, SBI Securities Co. Ltd. grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 285.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 676,299 shares of the company’s stock worth $3,496,000 after acquiring an additional 500,969 shares during the period.

About Direxion Daily Semiconductors Bear 3x Shares

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.