Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 10.4% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price dropped 10.4% during mid-day trading on Thursday . The stock traded as low as $193.96 and last traded at $195.01. 33,317,559 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 75,525,906 shares. The stock had previously closed at $217.55.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50 day moving average price is $198.04 and its 200-day moving average price is $107.14. The company has a market cap of $21.38 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Simplex Trading LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares during the period. Jump Financial LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after purchasing an additional 603,324 shares during the period. Group One Trading LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after purchasing an additional 319,393 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares in 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.