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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $58.09, but opened at $53.27. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $52.78, with a volume of 26,234,046 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The firm’s fifty day moving average price is $42.70 and its 200-day moving average price is $157.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $3,126,000. GTS Securities LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth approximately $1,109,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth approximately $130,000. Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $117,000. Finally, Corient Private Wealth LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $78,000.

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.