Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading 12.7% Higher – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares rose 12.7% during mid-day trading on Friday . The stock traded as high as $4.05 and last traded at $4.0250. Approximately 223,934,198 shares changed hands during mid-day trading, an increase of 70% from the average daily volume of 131,413,734 shares. The stock had previously closed at $3.57.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company has a 50-day moving average of $4.99 and a 200-day moving average of $8.62.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth $61,000. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at about $45,000. PayPay Securities Corp raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 718.6% during the second quarter. PayPay Securities Corp now owns 13,180 shares of the company’s stock worth $104,000 after acquiring an additional 11,570 shares in the last quarter. Tidal Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at approximately $109,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth approximately $114,000.

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.