Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Large Volume Increase – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) shares saw an uptick in trading volume on Wednesday. Approximately 25,101,952 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 37,342,844 shares. The stock last traded at $39.61 and had previously closed at $37.42.

Direxion Daily Semiconductors Bear 3X ETF Stock Up 11.2%

The stock has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $88.98.

Institutional Trading of Direxion Daily Semiconductors Bear 3X ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SOXS. Tidal Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at approximately $117,000. NewEdge Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $45,000. Allworth Financial LP purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $130,000. Corient Private Wealth LP bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at approximately $78,000. Finally, PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $55,000.

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.