Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sets New 1-Year Low – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $8.98 and last traded at $9.14, with a volume of 51116731 shares. The stock had previously closed at $9.23.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $20.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 277.8% during the first quarter. BNP Paribas Financial Markets now owns 1,700,000 shares of the company’s stock worth $49,283,000 after acquiring an additional 1,250,000 shares during the last quarter. Jump Financial LLC lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 7.3% during the first quarter. Jump Financial LLC now owns 192,109 shares of the company’s stock worth $5,569,000 after purchasing an additional 13,009 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the first quarter worth about $1,145,000. FNY Investment Advisers LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the first quarter worth about $130,000. Finally, GTS Securities LLC increased its holdings 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 valued at $7,620,000 after buying an additional 247,267 shares during the last quarter.

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.