Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 6.6% – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) were down 6.6% on Monday . The company traded as low as $3.95 and last traded at $3.96. Approximately 498,091,404 shares changed hands during trading, an increase of 134% from the average daily volume of 212,980,188 shares. The stock had previously closed at $4.24.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 12.0%

The firm’s 50-day moving average price is $8.73 and its two-hundred day moving average price is $31.03.

Direxion Daily Semiconductors Bear 3x Shares’s stock is going to reverse split on the morning of Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

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

Several large investors have recently modified their holdings of the company. Group One Trading LLC raised its position in Direxion Daily Semiconductors Bear 3x Shares by 64.4% in the 3rd quarter. Group One Trading LLC now owns 304,291 shares of the company’s stock valued at $1,573,000 after purchasing an additional 119,167 shares during the last quarter. PayPay Securities Corp increased its position in Direxion Daily Semiconductors Bear 3x Shares by 169.2% in the 4th quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock valued at $171,000 after acquiring an additional 34,320 shares during the period. Smithfield Trust Co purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at approximately $4,679,000. Hamilton Wealth LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at approximately $536,000. Finally, Capstone Capital Management Ltd acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth approximately $252,000.

Direxion Daily Semiconductors Bear 3x Shares 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.