Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 8.4% – Time to Sell?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) traded down 8.4% during mid-day trading on Wednesday . The company traded as low as $36.30 and last traded at $36.52. 20,933,420 shares traded hands during trading, a decline of 45% from the average session volume of 37,922,297 shares. The stock had previously closed at $39.86.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The company has a 50-day simple moving average of $38.13 and a 200-day simple moving average of $61.20.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors and hedge funds have recently modified their holdings of SOXS. JPMorgan Chase & Co. increased its position in Direxion Daily Semiconductors Bear 3x Shares by 11,545.6% during the second quarter. JPMorgan Chase & Co. now owns 274,486 shares of the company’s stock worth $2,166,000 after buying an additional 272,129 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the second quarter valued at $564,000. Qube Research & Technologies Ltd boosted its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 16,725.0% during the second 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 increased its position in Direxion Daily Semiconductors Bear 3x Shares by 100.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the company’s stock worth $473,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Group One Trading LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 284.7% during the 2nd quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock worth $1,461,000 after purchasing an additional 137,001 shares in the last quarter.

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.