Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Down 13.2% – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price fell 13.2% on Friday. The company traded as low as $58.68 and last traded at $56.8720. Approximately 47,049,749 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 81,472,633 shares. The stock had previously closed at $65.53.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 35.63 and a beta of 5.93. The business’s 50-day moving average is $111.37 and its two-hundred day moving average is $123.52.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several large investors have recently modified their holdings of SOXL. Hantz Financial Services Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth $42,000. Anchor Investment Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the second quarter worth $107,000. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the first quarter worth $33,000. PayPay Securities Corp boosted its holdings in Direxion Daily Semiconductors Bull 3X ETF by 105.8% during the third quarter. PayPay Securities Corp now owns 856 shares of the company’s stock worth $127,000 after purchasing an additional 440 shares during the last quarter. Finally, Bouchey Financial Group Ltd. acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the second quarter worth $360,000.

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.