Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Up 14.6% – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares were up 14.6% during mid-day trading on Friday . The company traded as high as $4.20 and last traded at $4.16. 177,447,284 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 206,648,359 shares. The stock had previously closed at $3.63.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 13.5%

The stock’s fifty day simple moving average is $9.06 and its 200 day simple moving average is $31.41.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 272,129 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of 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 buying an additional 100,350 shares during the period. Lighthouse Investment Partners LLC lifted its position 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 buying an additional 30,000 shares in the last quarter. 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 acquiring an additional 137,001 shares during the period. Finally, Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter worth approximately $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.