Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Down 4.2% – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $1.73 and last traded at $1.6950. Approximately 92,304,363 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 516,939,188 shares. The stock had previously closed at $1.77.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 2.9%

The firm has a fifty day moving average price of $2.36 and a 200 day moving average price of $4.08.

Shares of Direxion Daily Semiconductors Bear 3x Shares are set to reverse split on the morning of Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

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

Several hedge funds have recently modified their holdings of SOXS. Toronto Dominion Bank grew its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $43,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth $45,000. Nwam LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $56,000. Finally, Marex Group plc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $63,000.

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.