Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 16% – Here’s What Happened
by Renee Jackson · The Cerbat GemDirexion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS – Get Free Report) fell 16% during trading on Thursday . The company traded as low as $3.75 and last traded at $3.78. Approximately 199,144,401 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 238,024,672 shares. The stock had previously closed at $4.50.
Direxion Daily Semiconductors Bear 3x Shares Price Performance
The stock has a 50 day moving average of $6.68 and a 200 day moving average of $27.62.
Direxion Daily Semiconductors Bear 3x Shares’s stock is scheduled to reverse split on the morning of Wednesday, July 15th. The 1-10 reverse split was announced on Wednesday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 14th.
Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares
A number of large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $6,178,000. Axxcess Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at about $151,000. VestGen Advisors LLC acquired a new position in Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $81,000. Toronto Dominion Bank raised its stake in Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock worth $36,000 after acquiring an additional 95,743 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $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.