Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Reaches New 52-Week Low – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) hit a new 52-week low on Thursday . The company traded as low as $2.05 and last traded at $2.0750, with a volume of 100566130 shares trading hands. The stock had previously closed at $2.28.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 3.7%

The stock has a fifty day moving average of $3.20 and a 200 day moving average of $5.05.

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

Hedge funds have recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter valued at about $45,000. Eastern Bank purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at approximately $61,000. PFG Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $75,000. Modern Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth approximately $83,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth approximately $94,000.

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.