Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 9% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 9% during mid-day trading on Thursday . The stock traded as low as $65.86 and last traded at $65.4030. Approximately 17,618,390 shares were traded during trading, a decline of 77% from the average daily volume of 76,937,891 shares. The stock had previously closed at $71.86.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 11.9%

The firm has a market capitalization of $12.18 billion, a PE ratio of 35.63 and a beta of 4.52. The business has a 50-day moving average price of $57.00 and a 200-day moving average price of $43.72.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently bought and sold shares of the company. Avestar Capital LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 232.9% in the second quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock valued at $6,654,000 after purchasing an additional 185,383 shares during the period. APEIRON CAPITAL Ltd acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $4,181,000. Dakota Community Bank & Trust NA purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $791,000. Orion Porfolio Solutions LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $1,657,000. Finally, SBI Securities Co. Ltd. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after acquiring an additional 526,417 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.