Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 4% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 4% on Friday . The company traded as low as $33.48 and last traded at $33.52. Approximately 28,446,400 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 69,250,133 shares. The stock had previously closed at $34.92.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s 50-day moving average price is $29.35 and its 200-day moving average price is $34.99. The firm has a market capitalization of $8.85 billion, a PE 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 SOXL. TB Alternative Assets Ltd. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $17,641,000. CloudAlpha Capital Management Limited Hong Kong increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock valued at $14,049,000 after buying an additional 205,910 shares during the period. International Assets Investment Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $3,781,000. Taika Capital LP purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth $3,765,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth $1,064,000.

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.