Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.8% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 6.8% during trading on Thursday . The company traded as low as $48.15 and last traded at $48.7220. Approximately 44,380,594 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 85,044,922 shares. The stock had previously closed at $52.29.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a 50-day moving average of $42.78 and a two-hundred day moving average of $34.82. The company has a market cap of $14.44 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 1,626.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 34,538 shares of the company’s stock valued at $867,000 after purchasing an additional 32,538 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 194.9% in the second quarter. Parallel Advisors LLC now owns 16,257 shares of the company’s stock worth $408,000 after purchasing an additional 10,745 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 772.9% in the second quarter. Farther Finance Advisors LLC now owns 12,220 shares of the company’s stock worth $307,000 after purchasing an additional 10,820 shares during the last quarter. Abound Wealth Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $136,000. Finally, Surience Private Wealth LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $1,311,000.

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.