Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 6.7% – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) dropped 6.7% during trading on Monday . The stock traded as low as $1.83 and last traded at $1.8380. Approximately 339,209,347 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 412,755,906 shares. The stock had previously closed at $1.97.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50-day moving average of $2.80 and a 200-day moving average of $4.63.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Eastern Bank bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at $61,000. Game Plan Financial Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $45,000. PayPay Securities Corp raised its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 718.6% during the second quarter. PayPay Securities Corp now owns 13,180 shares of the company’s stock worth $104,000 after purchasing an additional 11,570 shares during the period. Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter worth $109,000. Finally, Vontobel Holding Ltd. acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $114,000.

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.