Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Large Drop in Short Interest

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 5,204,141 shares, a decrease of 88.7% from the June 30th total of 46,008,120 shares. Based on an average daily volume of 65,430,530 shares, the days-to-cover ratio is presently 0.1 days. Currently, 15.4% of the company’s stock are short sold.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

SOXS stock traded up $5.92 during mid-day trading on Friday, hitting $51.53. 62,664,705 shares of the company were exchanged, compared to its average volume of 27,311,537. The firm’s 50 day simple moving average is $52.63 and its 200 day simple moving average is $231.57. Direxion Daily Semiconductors Bear 3x Shares has a 1-year low of $31.70 and a 1-year high of $1,698.00.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXS. Toronto Dominion Bank lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after acquiring an additional 95,743 shares in the last quarter. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $43,000. Nwam LLC acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $56,000. Marex Group plc acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at about $63,000. Finally, VestGen Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $81,000.

About Direxion Daily Semiconductors Bear 3x Shares

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.