Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up prior to trading on Thursday . The stock had previously closed at $2.82, but opened at $2.92. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.0150, with a volume of 119,898,301 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $6.39.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds have recently bought and sold shares of SOXS. BNP Paribas Financial Markets boosted its stake in Direxion Daily Semiconductors Bear 3x Shares by 277.8% in the first quarter. BNP Paribas Financial Markets now owns 1,700,000 shares of the company’s stock worth $49,283,000 after buying an additional 1,250,000 shares in the last quarter. Lane Generational LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth approximately $6,309,000. IHT Wealth Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $7,441,000. Simplex Trading LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $3,970,000. Finally, SBI Securities Co. Ltd. raised its position in Direxion Daily Semiconductors Bear 3x Shares by 285.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 676,299 shares of the company’s stock worth $3,496,000 after purchasing an additional 500,969 shares during the period.

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.