Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $28.79, but opened at $30.57. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $30.56, with a volume of 13,247,279 shares.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The business has a 50-day moving average price of $21.99 and a 200-day moving average price of $21.67.

Direxion Daily Semiconductors Bear 3x Shares Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.1846 dividend. The ex-dividend date of this dividend is Tuesday, March 25th.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC grew its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 208.7% in the 4th quarter. Virtu Financial LLC now owns 814,792 shares of the company’s stock valued at $18,308,000 after buying an additional 550,886 shares during the period. BNP Paribas Financial Markets lifted its holdings in Direxion Daily Semiconductors Bear 3x Shares by 200.9% in the third quarter. BNP Paribas Financial Markets now owns 752,200 shares of the company’s stock valued at $15,232,000 after acquiring an additional 502,200 shares during the last quarter. GTS Securities LLC grew its position in Direxion Daily Semiconductors Bear 3x Shares by 269.2% in the fourth quarter. GTS Securities LLC now owns 339,124 shares of the company’s stock worth $7,620,000 after acquiring an additional 247,267 shares during the period. Smithfield Trust Co acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth $6,636,000. Finally, Tower Research Capital LLC TRC raised its position in Direxion Daily Semiconductors Bear 3x Shares by 899.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 154,251 shares of the company’s stock valued at $3,466,000 after purchasing an additional 138,817 shares during the period.

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.