Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9.9% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 9.9% during mid-day trading on Friday . The stock traded as low as $28.67 and last traded at $28.56. Approximately 38,584,012 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 73,656,391 shares. The stock had previously closed at $31.70.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The firm’s fifty day moving average is $29.22 and its 200-day moving average is $31.80.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $27,180,000. BNP Paribas Financial Markets raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after purchasing an additional 299,744 shares during the period. Simplex Trading LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the fourth quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after purchasing an additional 235,607 shares during the period. CloudAlpha Capital Management Limited Hong Kong raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after purchasing an additional 205,910 shares during the period. Finally, TB Alternative Assets Ltd. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after purchasing an additional 141,941 shares during the period.

About Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.