Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Strong Trading Volume – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) saw unusually-high trading volume on Wednesday . 293,392,273 shares traded hands during mid-day trading, an increase of 25% from the previous session’s volume of 233,940,563 shares.The stock last traded at $4.56 and had previously closed at $4.80.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 0.8%

The company has a fifty day moving average of $6.87 and a 200-day moving average of $28.08.

Direxion Daily Semiconductors Bear 3x Shares’s stock is scheduled to reverse split on 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 market closes on Tuesday, July 14th.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

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

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.