Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 9.9% – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price traded down 9.9% during mid-day trading on Friday . The company traded as low as $9.50 and last traded at $9.55. 75,782,390 shares were traded during trading, an increase of 13% from the average session volume of 66,847,828 shares. The stock had previously closed at $10.60.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 11.6%

The business has a fifty day moving average price of $30.20 and a 200-day moving average price of $47.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% in the second quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock valued at $2,166,000 after acquiring an additional 272,129 shares during the period. Qube Research & Technologies Ltd increased its position in Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% in the second quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock worth $796,000 after buying an additional 100,350 shares in the last quarter. Lighthouse Investment Partners LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 100.0% in the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock worth $473,000 after buying an additional 30,000 shares in the last quarter. Group One Trading LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 284.7% in the second quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock worth $1,461,000 after buying an additional 137,001 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth about $109,000.

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.