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

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down before the market opened on Monday . The stock had previously closed at $4.72, but opened at $4.07. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $4.00, with a volume of 128,597,317 shares.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 17.2%

The stock has a 50 day simple moving average of $12.28 and a 200 day simple moving average of $34.44.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently bought and sold shares of the business. Group One Trading LLC raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 64.4% during the third quarter. Group One Trading LLC now owns 304,291 shares of the company’s stock worth $1,573,000 after buying an additional 119,167 shares during the last quarter. PayPay Securities Corp grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 169.2% during the fourth quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock valued at $171,000 after buying an additional 34,320 shares during the last quarter. Hamilton Wealth LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at about $536,000. Ballew Advisors Inc increased its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 46.3% during the fourth quarter. Ballew Advisors Inc now owns 179,944 shares of the company’s stock worth $563,000 after acquiring an additional 56,928 shares in the last quarter. Finally, Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $252,000.

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. 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.