Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Strong Trading Volume – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) saw an uptick in trading volume on Wednesday . Approximately 293,392,273 shares were traded during trading, an increase of 25% from the previous session’s volume of 233,940,563 shares.The stock last traded at $4.56 and had previously closed at $4.80.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company’s fifty day moving average is $6.44 and its 200-day moving average is $27.20.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled 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 market closes on Tuesday, July 14th.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% during the second quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock valued at $2,166,000 after acquiring an additional 272,129 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the second quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock worth $796,000 after purchasing an additional 100,350 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 100.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock valued at $473,000 after purchasing an additional 30,000 shares during the period. Group One Trading LLC grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 284.7% during the 2nd quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock valued at $1,461,000 after purchasing an additional 137,001 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at about $109,000.

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.