Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Sees Unusually-High Trading Volume – Here’s Why

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) saw an uptick in trading volume on Thursday. Approximately 46,789,520 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 71,460,625 shares. The stock last traded at $98.0420 and had previously closed at $110.54.

Direxion Daily Semiconductors Bull 3X ETF Stock Down 12.7%

The firm’s 50-day simple moving average is $128.92 and its 200-day simple moving average is $150.29. The firm has a market capitalization of $16.43 billion, a PE ratio of 35.63 and a beta of 5.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SOXL. IMC Chicago LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares during the period. Optiver Holding B.V. boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after purchasing an additional 251,587 shares during the period. Client First Investment Management LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the third quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock valued at $4,827,000 after purchasing an additional 17,621 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 1.2% during the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after purchasing an additional 266 shares during the period. Finally, Clearwater Capital Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the first quarter worth approximately $791,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.