Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Trading Down 14.6% – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) fell 14.6% during trading on Monday . The stock traded as low as $99.87 and last traded at $103.9740. Approximately 32,172,429 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 72,342,758 shares. The stock had previously closed at $121.82.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The firm has a market capitalization of $17.47 billion, a P/E ratio of 35.63 and a beta of 5.73. The firm’s 50 day moving average is $134.93 and its two-hundred day moving average is $137.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Direxion Daily Semiconductors Bull 3X ETF by 95,133.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the last quarter. Avestar Capital LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth approximately $2,514,000. Larson Financial Group LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 91.1% during the fourth quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after buying an additional 3,366 shares during the last quarter. HighTower Advisors LLC raised its stake in Direxion Daily Semiconductors Bull 3X ETF by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock valued at $1,761,000 after buying an additional 3,233 shares during the period. Finally, SLT Holdings LLC bought a new stake in Direxion Daily Semiconductors Bull 3X ETF in the fourth quarter valued at approximately $240,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.