Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Strong Trading Volume – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) saw unusually-high trading volume on Wednesday. Approximately 42,476,182 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 40,457,055 shares. The stock last traded at $54.60 and had previously closed at $53.64.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 7.3%

The firm has a 50 day moving average price of $42.76 and a 200 day moving average price of $155.60.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of hedge funds have recently modified their holdings of SOXS. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth $3,126,000. Formidable Asset Management LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 3rd quarter valued at approximately $11,899,000. GTS Securities LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at approximately $1,109,000. Allworth Financial LP purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $130,000. Finally, Tidal Investments LLC purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $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.