Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) gapped down prior to trading on Tuesday. The stock had previously closed at $47.98, but opened at $45.80. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $45.70, with a volume of 13,613,042 shares traded.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The business has a fifty day moving average of $42.32 and a 200-day moving average of $170.56.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Several hedge funds have recently made changes to their positions in SOXS. Two Sigma Securities LLC purchased a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $3,126,000. GTS Securities LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter valued at about $1,109,000. Allworth Financial LP acquired a new stake in Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth approximately $130,000. Tidal Investments LLC acquired a new position in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at approximately $117,000. Finally, Corient Private Wealth LP bought a new stake in shares of Direxion Daily Semiconductors Bear 3X ETF during the 2nd quarter worth $78,000.

Direxion Daily Semiconductors Bear 3X ETF 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.