Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 9.9% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 9.9% on Friday . The stock traded as low as $28.67 and last traded at $28.56. Approximately 38,584,012 shares changed hands 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 Trading Down 9.1 %

The firm has a 50 day moving average of $29.18 and a two-hundred day moving average of $31.80. The stock has a market capitalization of $7.81 billion, a PE ratio of 37.08 and a beta of 5.47.

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

A number of large investors have recently bought and sold shares of the stock. Visionary Wealth Advisors grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock valued at $263,000 after buying an additional 613 shares during the last quarter. Morse Asset Management Inc grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after buying an additional 368 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after buying an additional 299,744 shares during the last quarter. Seaview Investment Managers LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 72.4% during the 4th quarter. Seaview Investment Managers LLC now owns 13,029 shares of the company’s stock valued at $356,000 after buying an additional 5,472 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at $603,000.

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.