Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading Down 13.1% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were down 13.1% during mid-day trading on Tuesday . The company traded as low as $45.85 and last traded at $46.94. Approximately 19,638,068 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 26,108,691 shares. The stock had previously closed at $53.99.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 14.3%

The business has a 50-day moving average of $55.85 and a 200 day moving average of $244.57.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of large investors have recently made changes to their positions in SOXS. Smithfield Trust Co purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $4,679,000. PayPay Securities Corp raised its position in Direxion Daily Semiconductors Bear 3x Shares by 169.2% in the fourth quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock worth $171,000 after acquiring an additional 34,320 shares during the period. Capstone Capital Management Ltd purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $252,000. Ballew Advisors Inc boosted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 46.3% during the 4th quarter. Ballew Advisors Inc now owns 179,944 shares of the company’s stock worth $563,000 after acquiring an additional 56,928 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at $6,178,000.

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.