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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down before the market opened on Friday . The stock had previously closed at $51.60, but opened at $49.56. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $46.76, with a volume of 20,409,031 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The company has a 50 day moving average price of $46.94 and a 200-day moving average price of $155.44.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smithfield Trust Co purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $4,679,000. Capstone Capital Management Ltd bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at $252,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $6,178,000. UBS Group AG raised its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after purchasing an additional 787,062 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after purchasing an additional 95,743 shares in the last quarter.

Direxion Daily Semiconductors Bear 3x Shares 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.