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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.24, but opened at $3.59. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $3.83, with a volume of 564,701,534 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50 day moving average is $7.52 and its two-hundred day moving average is $29.46.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled 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

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXS. Toronto Dominion Bank grew its holdings in shares of 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 valued at $36,000 after buying an additional 95,743 shares during the period. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $43,000. Nwam LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $56,000. Marex Group plc acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $63,000. Finally, VestGen Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $81,000.

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.