Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS – Get Free Report) saw an uptick in trading volume on Thursday . Approximately 246,355,907 shares were traded during mid-day 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 company has a 50-day simple moving average of $7.79 and a two-hundred day simple moving average of $29.89.

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Shares of Direxion Daily Semiconductors Bear 3x Shares are 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 Trading of Direxion Daily Semiconductors Bear 3x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired 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 2nd quarter worth about $109,000. Modern Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter worth about $83,000. Vontobel Holding Ltd. raised its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 62.9% in the 4th quarter. Vontobel Holding Ltd. now owns 42,200 shares of the company’s stock valued at $132,000 after purchasing an additional 16,300 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Direxion Daily Semiconductors Bear 3x Shares by 7,921.4% in the 2nd quarter. Headlands Technologies LLC now owns 17,968 shares of the company’s stock valued at $142,000 after purchasing an additional 17,744 shares during the last quarter.

About Direxion Daily Semiconductors Bear 3x Shares

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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.

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