Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Stock Price Up 3.9% – Still a Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) rose 3.9% during trading on Friday . The company traded as high as $42.90 and last traded at $42.77. Approximately 15,763,557 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 37,229,668 shares. The stock had previously closed at $41.18.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 2.6%

The company has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $64.34.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock valued at $2,166,000 after buying an additional 272,129 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at about $564,000. Qube Research & Technologies Ltd boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 100,950 shares of the company’s stock valued at $796,000 after acquiring an additional 100,350 shares during the last quarter. Lighthouse Investment Partners LLC grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 100.0% in the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock valued at $473,000 after purchasing an additional 30,000 shares during the period. Finally, Group One Trading LLC grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 284.7% in the second quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock valued at $1,461,000 after purchasing an additional 137,001 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. 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.