Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.26, but opened at $12.50. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $12.07, with a volume of 42,357,701 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 14.4%

The firm’s fifty day moving average price is $31.60 and its 200-day moving average price is $49.41.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after acquiring an additional 95,743 shares during the period. IFP Advisors Inc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $43,000. Game Plan Financial Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth about $45,000. Nwam LLC acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $56,000. Finally, Marex Group plc acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $63,000.

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.