Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 6.6% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded down 6.6% on Thursday . The stock traded as low as $98.62 and last traded at $99.3430. 17,566,935 shares were traded during trading, a decline of 76% from the average session volume of 72,883,273 shares. The stock had previously closed at $106.35.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 9.9%

The firm has a market cap of $19.87 billion, a P/E ratio of 35.63 and a beta of 5.73. The business’s fifty day simple moving average is $144.53 and its 200-day simple moving average is $134.57.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently modified their holdings of SOXL. Northwestern Mutual Wealth Management Co. increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period. Avestar Capital LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $2,514,000. Larson Financial Group LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the 4th quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after buying an additional 3,366 shares during the period. HighTower Advisors LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock worth $1,761,000 after buying an additional 3,233 shares during the last quarter. Finally, SLT Holdings LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $240,000.

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.