Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 8.6% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 8.6% during mid-day trading on Wednesday . The stock traded as low as $116.84 and last traded at $118.02. 35,962,215 shares were traded during trading, a decline of 52% from the average daily volume of 74,323,281 shares. The stock had previously closed at $129.10.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 1.2%

The business has a 50-day moving average price of $174.69 and a 200 day moving average price of $131.08. The stock has a market capitalization of $20.70 billion, a P/E ratio of 35.63 and a beta of 5.73.

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

Institutional investors have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $25,000. Halbert Hargrove Global Advisors LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 138 shares during the last quarter. Western Wealth Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth approximately $33,000. Finally, 1248 Management LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter.

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.