Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Hits New 52-Week Low – What’s Next?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shares hit a new 52-week low on Friday . The company traded as low as $7.84 and last traded at $7.89, with a volume of 42502084 shares trading hands. The stock had previously closed at $8.29.

Direxion Daily Semiconductors Bear 3x Shares Stock Down 7.7%

The stock’s fifty day simple moving average is $24.34 and its two-hundred day simple moving average is $43.43.

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

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $6,178,000. Axxcess Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $151,000. VestGen Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $81,000. Toronto Dominion Bank boosted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% in the 4th quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter valued at $2,212,000.

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.