Stock Traders Purchase High Volume of Direxion Daily Semiconductors Bear 3x Shares Call Options (NYSEARCA:SOXS)

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) was the target of some unusual options trading on Wednesday. Traders bought 162,485 call options on the company. This is an increase of 59% compared to the average volume of 102,091 call options.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 0.4%

NYSEARCA SOXS opened at $2.24 on Friday. The business has a 50-day moving average price of $2.66 and a 200-day moving average price of $4.52. Direxion Daily Semiconductors Bear 3x Shares has a twelve month low of $1.72 and a twelve month high of $53.43.

Direxion Daily Semiconductors Bear 3x Shares shares are scheduled to reverse split before the market opens on Thursday, March 5th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

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

Hedge funds have recently modified their holdings of the stock. Game Plan Financial Advisors LLC purchased a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $45,000. Nwam LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $56,000. Eastern Bank bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 2nd quarter valued at about $61,000. PFG Investments LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at about $75,000. Finally, Modern Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the third quarter worth about $83,000.

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.