Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price gapped down prior to trading on Friday. The stock had previously closed at $33.79, but opened at $32.40. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $34.31, with a volume of 31,736,116 shares changing hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The business has a 50 day moving average of $42.52 and a 200-day moving average of $96.14.

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

A number of hedge funds have recently modified their holdings of the business. OceanIQ Capital LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at $44,000. NewEdge Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $45,000. PCG Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $55,000. Corient Private Wealth LP purchased a new position in Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $78,000. Finally, Tidal Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF in the second quarter valued at $117,000.

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.