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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares gapped up before the market opened on Tuesday. The stock had previously closed at $37.19, but opened at $40.15. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $38.98, with a volume of 27,025,529 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock has a 50-day moving average of $41.80 and a 200 day moving average of $91.25.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter valued at approximately $6,178,000. Two Sigma Securities LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $3,126,000. GTS Securities LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $1,109,000. Allworth Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $130,000. Finally, Tidal Investments LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter worth $117,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.