Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 8.5% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded down 8.5% during mid-day trading on Friday . The company traded as low as $27.46 and last traded at $27.62. 47,458,060 shares changed hands during trading, a decline of 35% from the average session volume of 73,436,844 shares. The stock had previously closed at $30.18.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 7.0 %

The firm has a 50-day moving average price of $29.58 and a 200-day moving average price of $36.46. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after buying an additional 585 shares during the period. Covestor Ltd increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after purchasing an additional 889 shares during the period. Signaturefd LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after purchasing an additional 300 shares in the last quarter. Bogart Wealth LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at approximately $106,000. Finally, Hollencrest Capital Management lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after buying an additional 2,863 shares in the last quarter.

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.