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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Thursday . The stock had previously closed at $4.91, but opened at $5.57. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $5.64, with a volume of 206,601,091 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 31.5%

The company has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $38.62.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares during the period. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $43,000. Tidal Investments LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $109,000. Modern Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $83,000. Finally, Headlands Technologies LLC grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% during the second quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock worth $142,000 after purchasing an additional 17,744 shares during the period.

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. 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.