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

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $43.24, but opened at $46.52. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $47.19, with a volume of 22,067,450 shares changing hands.

Direxion Daily Semiconductors Bear 3X ETF Stock Performance

The stock’s 50 day moving average price is $47.53 and its two-hundred day moving average price is $146.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Direxion Daily Semiconductors Bear 3X ETF by 902,633.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company’s stock valued at $7,177,000 after buying an additional 2,292,689 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter worth approximately $6,178,000. Smithfield Trust Co acquired a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter worth approximately $4,679,000. HRT Financial LP purchased a new position in Direxion Daily Semiconductors Bear 3X ETF in the 4th quarter valued at approximately $3,942,000. Finally, UBS Group AG increased its stake in Direxion Daily Semiconductors Bear 3X ETF by 217.8% in the 4th quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock valued at $3,595,000 after purchasing an additional 787,062 shares in the last quarter.

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.