Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – What’s Next?

Shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped down before the market opened on Tuesday. The stock had previously closed at $47.98, but opened at $45.80. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $45.70, with a volume of 13,613,042 shares.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock has a fifty day moving average of $42.32 and a two-hundred day moving average of $170.56.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at $117,000. NewEdge Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $45,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $130,000. Corient Private Wealth LP bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $78,000. Finally, PCG Wealth Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $55,000.

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.