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 prior to trading on Tuesday . The stock had previously closed at $50.75, but opened at $47.82. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $47.33, with a volume of 12,133,914 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock’s 50-day moving average price is $45.28 and its two-hundred day moving average price is $174.09.

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

Several institutional investors and hedge funds have recently bought and sold shares of SOXS. Toronto Dominion Bank raised its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the fourth 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. OceanIQ Capital LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth about $44,000. IFP Advisors Inc purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $43,000. Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at about $109,000. Finally, PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at about $55,000.

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.