Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9.6% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 9.6% on Friday . The company traded as low as $49.34 and last traded at $49.56. Approximately 74,025,556 shares were traded during trading, a decline of 11% from the average daily volume of 82,964,930 shares. The stock had previously closed at $54.85.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 6.8%

The stock has a 50-day simple moving average of $60.24 and a 200-day simple moving average of $46.72. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 26.7% in the second quarter. Bank of Montreal Can now owns 5,933 shares of the company’s stock valued at $149,000 after acquiring an additional 1,250 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $252,000. Creative Planning grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 25.0% during the 2nd quarter. Creative Planning now owns 33,622 shares of the company’s stock worth $844,000 after acquiring an additional 6,729 shares in the last quarter. Vestor Capital LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $2,684,000. Finally, M Holdings Securities Inc. raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 54.3% in the 2nd quarter. M Holdings Securities Inc. now owns 35,866 shares of the company’s stock valued at $901,000 after purchasing an additional 12,620 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.