Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $29.63, but opened at $31.55. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $31.51, with a volume of 25,954,870 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 4.7%

The business’s 50 day moving average is $43.77 and its 200-day moving average is $101.24.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SOXS. OceanIQ Capital LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $44,000. NewEdge Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $45,000. PCG Wealth Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $55,000. Corient Private Wealth LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $78,000. Finally, Tidal Investments LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $117,000.

Direxion Daily Semiconductors Bear 3X ETF 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. 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.