Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Strong Trading Volume – Time to Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares saw strong trading volume on Thursday . 72,827,292 shares were traded during trading, a decline of 24% from the previous session’s volume of 95,592,820 shares.The stock last traded at $8.43 and had previously closed at $8.54.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 0.5%

The company’s 50 day moving average price is $24.95 and its 200-day moving average price is $43.84.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently made changes to their positions in SOXS. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock worth $7,177,000 after purchasing an additional 2,292,689 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $6,178,000. Smithfield Trust Co acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $4,679,000. HRT Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $3,942,000. Finally, Lane Generational LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth approximately $6,309,000.

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.