Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Price Down 7.7% – What’s Next?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares traded down 7.7% during trading on Wednesday. The stock traded as low as $117.00 and last traded at $117.6890. Approximately 26,626,648 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 71,262,672 shares. The stock had previously closed at $127.57.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The firm has a market capitalization of $16.72 billion, a P/E ratio of 35.63 and a beta of 5.75. The stock has a 50-day moving average of $129.85 and a 200 day moving average of $150.69.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several institutional investors have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the first quarter valued at $33,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the first quarter valued at $38,000. SHP Wealth Management bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the fourth quarter valued at about $57,000. Finally, Anchor Investment Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the second quarter valued at about $107,000.

Direxion Daily Semiconductors Bull 3X ETF 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.