Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $40.09, but opened at $43.4150. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $42.0499, with a volume of 30,968,269 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm has a 50-day moving average price of $42.11 and a two-hundred day moving average price of $74.91.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOXS. Toronto Dominion Bank grew its position 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 buying an additional 95,743 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth approximately $43,000. Game Plan Financial Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $45,000. Nwam LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $56,000. Finally, Marex Group plc acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $63,000.

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.