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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $58.34, but opened at $67.21. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $70.55, with a volume of 33,012,426 shares.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The firm has a 50-day moving average price of $42.95 and a 200 day moving average price of $153.73.

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

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