Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped down prior to trading on Monday. The stock had previously closed at $70.95, but opened at $67.79. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $59.70, with a volume of 38,069,576 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 0.4%

The company has a fifty day moving average of $44.36 and a 200-day moving average of $146.85.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Several institutional investors have recently bought and sold shares of the company. OceanIQ Capital LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth about $44,000. NewEdge Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $45,000. PCG Wealth Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $55,000. Corient Private Wealth LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $78,000. Finally, Tidal Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at approximately $117,000.

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.