Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Sees Strong Trading Volume – Still a Buy?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) saw an uptick in trading volume on Wednesday. 42,476,182 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 40,457,055 shares. The stock last traded at $54.60 and had previously closed at $53.64.

Direxion Daily Semiconductors Bear 3X ETF Trading Up 7.3%

The stock has a 50-day moving average price of $42.76 and a two-hundred day moving average price of $155.60.

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

Hedge funds have recently bought and sold shares of the business. OceanIQ Capital LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $44,000. NewEdge Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $45,000. PCG Wealth Advisors LLC bought a new stake in Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth $55,000. Corient Private Wealth LP bought a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $78,000. Finally, Tidal Investments LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the second quarter worth approximately $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.