Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price gapped down before the market opened on Tuesday. The stock had previously closed at $34.43, but opened at $32.82. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $32.60, with a volume of 23,153,832 shares.

Direxion Daily Semiconductors Bear 3X ETF Trading Down 4.6%

The stock’s fifty day moving average price is $46.12 and its two-hundred day moving average price is $116.57.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter valued at $6,178,000. Allworth Financial LP acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $130,000. PCG Wealth Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $55,000. Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $117,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $45,000.

Direxion Daily Semiconductors Bear 3X ETF 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.