Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Thursday . The stock had previously closed at $37.73, but opened at $39.50. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $41.06, with a volume of 21,909,469 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 11.5%

The business’s 50 day moving average price is $40.47 and its 200 day moving average price is $71.58.

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

A number of institutional investors and hedge funds have recently modified their holdings of SOXS. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 356.5% in the second quarter. SBI Securities Co. Ltd. now owns 175,330 shares of the company’s stock worth $1,383,000 after acquiring an additional 136,921 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock worth $2,166,000 after purchasing an additional 272,129 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth approximately $564,000. Qube Research & Technologies Ltd boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the second quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock worth $796,000 after buying an additional 100,350 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its holdings in Direxion Daily Semiconductors Bear 3x Shares by 100.0% during the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock valued at $473,000 after buying an additional 30,000 shares during the last quarter.

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.