Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.9% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded down 6.9% during trading on Thursday . The company traded as low as $44.66 and last traded at $46.2350. 34,087,630 shares traded hands during trading, a decline of 72% from the average session volume of 123,053,469 shares. The stock had previously closed at $49.65.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50 day simple moving average of $41.60 and a two-hundred day simple moving average of $31.37. The company has a market cap of $14.16 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $25,000. Optimum Investment Advisors lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 1,100 shares during the last quarter. Addison Advisors LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth $33,000. Quent Capital LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth $71,000. Finally, Spire Wealth Management boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 52.1% during the 3rd quarter. Spire Wealth Management now owns 2,926 shares of the company’s stock worth $102,000 after acquiring an additional 1,002 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.