Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down – Should You Sell?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down prior to trading on Thursday . The stock had previously closed at $1.97, but opened at $1.87. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $1.9550, with a volume of 133,124,397 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Trading Up 3.1%

The business has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $4.85.

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

Several large investors have recently added to or reduced their stakes in the business. Clear Creek Financial Management LLC grew its holdings in Direxion Daily Semiconductors Bear 3x Shares by 113.3% in the 4th quarter. Clear Creek Financial Management LLC now owns 64,000 shares of the company’s stock valued at $200,000 after buying an additional 34,000 shares during the period. J. Safra Sarasin Holding AG purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth about $94,000. Ballew Advisors Inc boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 46.3% in the fourth quarter. Ballew Advisors Inc now owns 179,944 shares of the company’s stock worth $563,000 after acquiring an additional 56,928 shares during the last quarter. Fragasso Financial Advisors Inc acquired a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth approximately $141,000. Finally, XTX Topco Ltd purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares in the third quarter valued at approximately $1,461,000.

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.