Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 17.8% – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 17.8% during mid-day trading on Thursday . The company traded as low as $13.52 and last traded at $13.36. Approximately 46,995,578 shares traded hands during trading, a decline of 41% from the average daily volume of 80,003,822 shares. The stock had previously closed at $16.26.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 25.1 %

The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The stock’s 50-day moving average is $23.63 and its 200-day moving average is $28.98.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were given a dividend of $0.0648 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 40.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock valued at $219,000 after buying an additional 2,313 shares during the last quarter. Barclays PLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock valued at $896,000 after acquiring an additional 8,890 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 55.7% during the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after purchasing an additional 3,263 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $29,000. Finally, Taika Capital LP acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $3,765,000.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.