Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Hits New 52-Week Low – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.00 and last traded at $1.9550, with a volume of 129131262 shares traded. The stock had previously closed at $2.17.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 6.2%

The firm has a fifty day moving average price of $3.15 and a two-hundred day moving average price of $4.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $45,000. Eastern Bank bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at $61,000. PFG Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $75,000. Modern Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth $83,000. Finally, J. Safra Sarasin Holding AG bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $94,000.

Direxion Daily Semiconductors Bear 3x Shares 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.