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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares gapped up prior to trading on Thursday . The stock had previously closed at $33.66, but opened at $35.45. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $34.91, with a volume of 30,277,163 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Trading Up 4.0%

The business has a 50-day moving average price of $47.33 and a 200-day moving average price of $124.58.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the fourth quarter valued at about $6,178,000. Two Sigma Securities LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $3,126,000. GTS Securities LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $1,109,000. Axxcess Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter valued at about $151,000. Finally, Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at about $130,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.