Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 6.8% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 6.8% during trading on Friday . The stock traded as low as $146.02 and last traded at $146.85. 10,274,207 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 73,933,125 shares. The stock had previously closed at $157.50.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 6.9%

The stock’s 50 day moving average price is $205.77 and its two-hundred day moving average price is $121.25. The stock has a market cap of $19.99 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after buying an additional 603,324 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares during the last quarter. Simplex Trading LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after buying an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 550.1% during the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after acquiring an additional 324,775 shares during the period.

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.