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

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $37.73, but opened at $39.50. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $41.06, with a volume of 21,909,469 shares traded.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 11.5%

The firm’s 50 day simple moving average is $40.47 and its 200 day simple moving average is $71.58.

Institutional Trading of Direxion Daily Semiconductors Bear 3x Shares

Large investors have recently added to or reduced their stakes in the company. Ballew Advisors Inc boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 2.3% during the 3rd quarter. Ballew Advisors Inc now owns 123,016 shares of the company’s stock valued at $636,000 after acquiring an additional 2,766 shares during the last quarter. PayPay Securities Corp lifted its position in Direxion Daily Semiconductors Bear 3x Shares by 53.9% during the third quarter. PayPay Securities Corp now owns 20,278 shares of the company’s stock valued at $105,000 after purchasing an additional 7,098 shares during the last quarter. Game Plan Financial Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth $45,000. Vontobel Holding Ltd. increased its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 78.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 25,900 shares of the company’s stock worth $134,000 after buying an additional 11,400 shares during the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $43,000.

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.