Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 3.1% – Here’s What Happened

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) traded down 3.1% during mid-day trading on Wednesday . The stock traded as low as $27.97 and last traded at $28.07. 19,730,215 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 44,465,506 shares. The stock had previously closed at $28.96.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The firm’s 50-day moving average price is $23.05 and its 200 day moving average price is $21.89.

Direxion Daily Semiconductors Bear 3x Shares Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.1846 per share. The ex-dividend date of this dividend was Tuesday, March 25th.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 27.3% in the 4th quarter. Vontobel Holding Ltd. now owns 28,425 shares of the company’s stock valued at $639,000 after buying an additional 6,095 shares during the period. Virtu Financial LLC grew its stake in Direxion Daily Semiconductors Bear 3x Shares by 208.7% in the fourth quarter. Virtu Financial LLC now owns 814,792 shares of the company’s stock valued at $18,308,000 after acquiring an additional 550,886 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $573,000. PayPay Securities Corp bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $65,000. Finally, Merit Financial Group LLC lifted its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 271.2% during the 4th quarter. Merit Financial Group LLC now owns 46,400 shares of the company’s stock valued at $1,043,000 after purchasing an additional 33,900 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.