Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading 3.9% Higher – Time to Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) shot up 3.9% during mid-day trading on Tuesday . The company traded as high as $19.70 and last traded at $19.36. 55,354,002 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 49,183,242 shares. The stock had previously closed at $18.63.

Direxion Daily Semiconductors Bear 3x Shares Stock Up 3.1 %

The company’s fifty day simple moving average is $22.05 and its 200 day simple moving average is $22.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SOXS. Virtu Financial LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 66.0% during the 3rd quarter. Virtu Financial LLC now owns 263,906 shares of the company’s stock valued at $5,344,000 after buying an additional 104,943 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 696.1% during the third quarter. IHT Wealth Management LLC now owns 93,300 shares of the company’s stock valued at $1,965,000 after acquiring an additional 81,580 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 82.9% during the third quarter. HighTower Advisors LLC now owns 57,151 shares of the company’s stock valued at $1,157,000 after acquiring an additional 25,901 shares in the last quarter. Edgestream Partners L.P. bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the 3rd quarter worth about $397,000. Finally, BNP Paribas Financial Markets grew its position in Direxion Daily Semiconductors Bear 3x Shares by 200.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 752,200 shares of the company’s stock valued at $15,232,000 after purchasing an additional 502,200 shares during 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.