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

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down prior to trading on Tuesday . The stock had previously closed at $48.74, but opened at $45.87. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $45.00, with a volume of 9,804,359 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 6.9%

The stock’s fifty day moving average price is $38.33 and its two-hundred day moving average price is $62.16.

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

Several hedge funds and other institutional investors have recently modified their holdings of SOXS. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $6,178,000. Axxcess Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $151,000. VestGen Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $81,000. Toronto Dominion Bank raised its stake in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after acquiring an additional 95,743 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $2,212,000.

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.