Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Trading 6.2% Higher – Time to Buy?

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) traded up 6.2% during trading on Tuesday . The company traded as high as $30.63 and last traded at $30.80. 9,943,078 shares traded hands during trading, a decline of 78% from the average session volume of 44,327,091 shares. The stock had previously closed at $28.99.

Direxion Daily Semiconductors Bear 3x Shares Price Performance

The firm has a 50-day moving average price of $22.20 and a two-hundred day moving average price of $21.70.

Direxion Daily Semiconductors Bear 3x Shares Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.1846 dividend. The ex-dividend date is Tuesday, March 25th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 3rd quarter valued at $397,000. HighTower Advisors LLC increased its position in Direxion Daily Semiconductors Bear 3x Shares by 82.9% in the 3rd 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. IHT Wealth Management LLC raised its stake in shares of Direxion Daily Semiconductors Bear 3x Shares by 696.1% in the third quarter. IHT Wealth Management LLC now owns 93,300 shares of the company’s stock worth $1,965,000 after acquiring an additional 81,580 shares during the last quarter. Virtu Financial LLC lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 66.0% during the third quarter. Virtu Financial LLC now owns 263,906 shares of the company’s stock worth $5,344,000 after purchasing an additional 104,943 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 271.2% during the fourth quarter. Merit Financial Group LLC now owns 46,400 shares of the company’s stock worth $1,043,000 after purchasing an additional 33,900 shares in the last quarter.

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.