Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 9% during trading on Tuesday . The company traded as low as $247.86 and last traded at $248.00. Approximately 21,845,933 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 77,698,156 shares. The stock had previously closed at $272.50.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 8.9%

The company has a market capitalization of $33.66 billion, a P/E ratio of 35.63 and a beta of 5.70. The business has a 50 day moving average price of $156.87 and a 200 day moving average price of $90.01.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after acquiring an additional 251,587 shares in the last quarter. Serenity Investment Advisors bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $116,000. Vestor Capital LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 70.0% during the first quarter. Vestor Capital LLC now owns 4,326 shares of the company’s stock worth $207,000 after acquiring an additional 1,782 shares in the last quarter. Western Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $33,000. Finally, Lido Advisors LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 120.6% during the first quarter. Lido Advisors LLC now owns 13,079 shares of the company’s stock worth $627,000 after acquiring an additional 7,150 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.