Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sets New 52-Week Low – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) hit a new 52-week low during trading on Thursday. The stock traded as low as $31.29 and last traded at $31.56, with a volume of 73349300 shares changing hands. The stock had previously closed at $33.08.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The company has a 50 day simple moving average of $45.65 and a 200 day simple moving average of $111.44.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

A number of hedge funds have recently added to or reduced their stakes in SOXS. IFP Advisors Inc bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the fourth quarter valued at approximately $43,000. OceanIQ Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $44,000. NewEdge Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $45,000. PCG Wealth Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth approximately $55,000. Finally, Corient Private Wealth LP acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $78,000.

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.