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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.17, but opened at $4.80. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $4.91, with a volume of 182,410,487 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 6.2%

The stock’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $27.62.

Direxion Daily Semiconductors Bear 3x Shares shares are set to reverse split before the market opens 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 market closes on Tuesday, July 14th.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds have recently bought and sold shares of the company. PayPay Securities Corp increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 169.2% in the 4th quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock valued at $171,000 after purchasing an additional 34,320 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at approximately $4,679,000. Hamilton Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at approximately $536,000. Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at approximately $252,000. Finally, Ballew Advisors Inc grew its holdings 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 valued at $563,000 after purchasing an additional 56,928 shares during 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.