Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 16% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) fell 16% during mid-day trading on Thursday . The company traded as low as $3.75 and last traded at $3.78. 199,144,401 shares changed hands during trading, a decline of 16% from the average session volume of 238,024,672 shares. The stock had previously closed at $4.50.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The business’s 50-day simple moving average is $6.68 and its two-hundred day simple moving average is $27.62.

Direxion Daily Semiconductors Bear 3x Shares shares are going to reverse split on Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $43,000. Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter worth about $109,000. Modern Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter worth about $83,000. Vontobel Holding Ltd. increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 62.9% in the fourth quarter. Vontobel Holding Ltd. now owns 42,200 shares of the company’s stock valued at $132,000 after buying an additional 16,300 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% in the second quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock valued at $142,000 after buying an additional 17,744 shares during the period.

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.