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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down prior to trading on Monday . The stock had previously closed at $3.68, but opened at $3.39. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.4260, with a volume of 63,382,422 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 7.5%

The company’s fifty day simple moving average is $4.92 and its two-hundred day simple moving average is $8.22.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds have recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at about $45,000. Eastern Bank bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $61,000. PFG Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at about $75,000. PayPay Securities Corp grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 718.6% in the 2nd quarter. PayPay Securities Corp now owns 13,180 shares of the company’s stock worth $104,000 after buying an additional 11,570 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at about $109,000.

About Direxion Daily Semiconductors Bear 3x Shares

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.