Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 10% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares dropped 10% on Monday . The company traded as low as $18.92 and last traded at $18.79. Approximately 29,183,387 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 83,395,398 shares. The stock had previously closed at $20.88.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market capitalization of $5.37 billion, a P/E ratio of 29.74 and a beta of 3.96. The stock’s 50-day simple moving average is $27.38 and its two-hundred day simple moving average is $30.57.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently modified their holdings of SOXL. Simplex Trading LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the fourth quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after acquiring an additional 235,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $27,180,000. TB Alternative Assets Ltd. boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after acquiring an additional 141,941 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after acquiring an additional 205,910 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of 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 acquiring an additional 299,744 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.