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

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

Direxion Daily Semiconductors Bear 3x Shares Trading Up 0.2%

The firm’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $27.03.

Shares of Direxion Daily Semiconductors Bear 3x Shares are scheduled 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 Trading of Direxion Daily Semiconductors Bear 3x Shares

A number of large investors have recently bought and sold shares of SOXS. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 272,129 shares during the period. Qube Research & Technologies Ltd boosted its holdings 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 worth $796,000 after buying an additional 100,350 shares in the last quarter. Lighthouse Investment Partners LLC grew its position in shares of 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 buying an additional 30,000 shares during the period. Group One Trading LLC increased its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 284.7% in the 2nd quarter. Group One Trading LLC now owns 185,124 shares of the company’s stock valued at $1,461,000 after acquiring an additional 137,001 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 2nd quarter valued at $109,000.

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.