Direxion Daily Semiconductors Bear 3x Shares Stock to Reverse Split on Thursday, March 5th (NYSEARCA:SOXS)

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) are set to reverse split on the morning of 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.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 2.8%

NYSEARCA:SOXS opened at $1.76 on Tuesday. The business’s 50-day moving average is $2.46 and its 200 day moving average is $4.20. Direxion Daily Semiconductors Bear 3x Shares has a 12 month low of $1.62 and a 12 month high of $53.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SOXS. IFP Advisors Inc bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth $43,000. Game Plan Financial Advisors LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at $45,000. Nwam LLC purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth $56,000. Marex Group plc bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 4th quarter worth about $63,000. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth about $75,000.

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.