Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down before the market opened on Wednesday . The stock had previously closed at $8.95, but opened at $8.38. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $8.73, with a volume of 123,783,661 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 1.0%

The stock has a 50 day moving average price of $27.47 and a 200 day moving average price of $45.46.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $45,000. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $43,000. Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $109,000. PFG Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $75,000. Finally, Modern Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at $83,000.

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. 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.