Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 6.6% – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) fell 6.6% during trading on Monday . The stock traded as low as $3.95 and last traded at $3.96. 498,091,404 shares changed hands during trading, an increase of 134% from the average session volume of 212,980,188 shares. The stock had previously closed at $4.24.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The stock’s 50-day simple moving average is $8.73 and its 200 day simple moving average is $31.03.

Direxion Daily Semiconductors Bear 3x Shares’s stock is set to reverse split on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXS. Toronto Dominion Bank boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after acquiring an additional 95,743 shares in the last quarter. IFP Advisors Inc purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth approximately $43,000. Tidal Investments LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth approximately $109,000. Modern Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $83,000. Finally, Headlands Technologies LLC boosted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% in the second quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock valued at $142,000 after purchasing an additional 17,744 shares in the last quarter.

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.