Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Large Volume Increase – Time to Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) saw unusually-strong trading volume on Thursday . 246,355,907 shares were traded during trading, an increase of 11% from the previous session’s volume of 222,469,422 shares.The stock last traded at $3.75 and had previously closed at $3.86.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50-day moving average price is $7.27 and its 200 day moving average price is $29.29.

Direxion Daily Semiconductors Bear 3x Shares’s stock is scheduled to reverse split on 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 market closes on Tuesday, July 14th.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bear 3x Shares

A number of large investors have recently bought and sold shares of SOXS. IFP Advisors Inc bought a new stake in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter valued at $43,000. Tidal Investments LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the second quarter valued at about $109,000. Modern Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at about $83,000. Vontobel Holding Ltd. boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 62.9% during the 4th quarter. Vontobel Holding Ltd. now owns 42,200 shares of the company’s stock worth $132,000 after purchasing an additional 16,300 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% during the 2nd quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock worth $142,000 after purchasing an additional 17,744 shares in the last quarter.

Direxion Daily Semiconductors Bear 3x Shares Company Profile

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.