Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Price Down 6.9% – What’s Next?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price was down 6.9% on Wednesday. The company traded as low as $140.92 and last traded at $141.4010. 20,578,176 shares traded hands during trading, a decline of 71% from the average daily volume of 72,014,672 shares. The stock had previously closed at $151.95.

Direxion Daily Semiconductors Bull 3X ETF Trading Up 0.1%

The stock has a market capitalization of $25.53 billion, a PE ratio of 35.63 and a beta of 5.73. The stock has a 50 day moving average price of $126.19 and a 200-day moving average price of $141.14.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

A number of institutional investors and hedge funds have recently bought and sold shares of SOXL. Avestar Capital LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth about $2,514,000. HighTower Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 8.4% during the 4th quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock worth $1,761,000 after purchasing an additional 3,233 shares during the last quarter. IMC Chicago LLC lifted its stake in Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after buying an additional 324,775 shares in the last quarter. Alchemi Wealth LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 4th quarter worth about $796,000. Finally, Triton Wealth Management PLLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the first quarter valued at approximately $731,000.

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.