Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 11.3% – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded down 11.3% on Wednesday . The company traded as low as $54.75 and last traded at $54.2540. 42,917,657 shares changed hands during trading, a decline of 43% from the average session volume of 74,986,422 shares. The stock had previously closed at $61.20.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 13.1%

The stock has a fifty day moving average of $50.42 and a 200-day moving average of $39.52. The firm has a market capitalization of $10.85 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $25,000. Optimum Investment Advisors raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 550.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock worth $33,000 after purchasing an additional 1,100 shares during the last quarter. Addison Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at about $33,000. ORG Wealth Partners LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $36,000. Finally, Quent Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $71,000.

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.