Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up prior to trading on Monday . The stock had previously closed at $4.08, but opened at $4.44. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $4.62, with a volume of 162,243,937 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The business has a 50 day moving average of $6.24 and a 200-day moving average of $26.79.

Direxion Daily Semiconductors Bear 3x Shares shares are scheduled to reverse split before the market opens on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 14th.

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

A number of large investors have recently added to or reduced their stakes in SOXS. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $6,178,000. Axxcess Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $151,000. VestGen Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $81,000. Toronto Dominion Bank grew its holdings in shares of 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 buying 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 during 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.