Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Hits New 12-Month Low – Here’s What Happened

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.10 and last traded at $17.99, with a volume of 167657801 shares trading hands. The stock had previously closed at $20.88.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 13.8 %

The firm has a 50 day moving average of $27.58 and a 200-day moving average of $30.73. The firm has a market capitalization of $5.55 billion, a P/E ratio of 29.74 and a beta of 3.96.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copia Wealth Management bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $36,000. LM Advisors LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 667.3% during the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock worth $2,054,000 after purchasing an additional 65,400 shares during the last quarter. Visionary Wealth Advisors lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the fourth quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after purchasing an additional 613 shares during the last quarter. Morse Asset Management Inc lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after purchasing an additional 368 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in 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 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.