Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Down to $41.18

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped down before the market opened on Wednesday . The stock had previously closed at $41.18, but opened at $38.00. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $38.05, with a volume of 7,080,637 shares trading hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The stock has a 50 day simple moving average of $36.33 and a 200-day simple moving average of $64.15.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SOXS. Commonwealth Equity Services LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $152,000. Pathstone Family Office LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $179,000. HighTower Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $852,000. Headlands Technologies LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth $301,000. Finally, Gateway Advisory LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 16.7% during the third quarter. Gateway Advisory LLC now owns 42,000 shares of the company’s stock valued at $470,000 after acquiring an additional 6,000 shares during the last quarter.

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.