Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares gapped up prior to trading on Monday . The stock had previously closed at $47.03, but opened at $49.14. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $52.74, with a volume of 16,807,732 shares.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 11.1%

The firm has a fifty day moving average price of $45.05 and a 200 day moving average price of $176.51.

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

A number of institutional investors have recently bought and sold shares of SOXS. Smithfield Trust Co purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at approximately $4,679,000. Capstone Capital Management Ltd acquired a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at approximately $252,000. Virtu Financial LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $6,178,000. UBS Group AG grew its position in Direxion Daily Semiconductors Bear 3x Shares by 217.8% in the fourth quarter. UBS Group AG now owns 1,148,500 shares of the company’s stock worth $3,595,000 after acquiring an additional 787,062 shares during the period. Finally, IMC Chicago LLC increased its stake in Direxion Daily Semiconductors Bear 3x Shares by 33.1% during the fourth quarter. IMC Chicago LLC now owns 683,679 shares of the company’s stock worth $2,140,000 after acquiring an additional 169,995 shares during the last quarter.

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.