Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Down 7.6% – Here's Why

Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS ) dropped 7.6% on Tuesday . The company traded as low as $42.60 and last traded at $42.83. Approximately 33,940,848 shares changed hands during trading, an increase of 4% from the average daily volume of 32,489,434 shares. The stock had previously closed at $46.34. The stock's fifty day moving average is $47.20 and its two-hundred day moving average is $151.12. Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in Direxion Daily Semiconductors Bear 3x Shares by 902,633.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,292,943 shares of the company's stock worth $7,177,000 after purchasing an additional 2,292,689 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter valued at about $6,178,000. Smithfield Trust Co purchased a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at about $4,679,000. HRT Financial LP bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the fourth quarter worth about $3,942,000. Finally, Two Sigma Securities LLC bought a new position in Direxion Daily Semiconductors Bear 3x Shares in the second quarter worth about $3,126,000. 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.