Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS) Shares Gap Down – What’s Next?

Direxion Daily Semiconductors Bear 3X ETF (NYSEARCA:SOXS)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $58.09, but opened at $53.27. Direxion Daily Semiconductors Bear 3X ETF shares last traded at $52.78, with a volume of 26,234,046 shares trading hands.

Direxion Daily Semiconductors Bear 3X ETF Price Performance

The stock’s 50 day moving average price is $42.70 and its 200 day moving average price is $157.62.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3X ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Direxion Daily Semiconductors Bear 3X ETF during the second quarter valued at $130,000. Corient Private Wealth LP bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $78,000. Tidal Investments LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter worth about $117,000. PCG Wealth Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $55,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3X ETF in the 2nd quarter valued at about $45,000.

About Direxion Daily Semiconductors Bear 3X ETF

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.