Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Falls 10.1% – What’s Next?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price traded down 10.1% on Monday. The company traded as low as $70.71 and last traded at $69.2750. Approximately 98,625,092 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 74,331,477 shares. The stock had previously closed at $77.05.

Direxion Daily Semiconductors Bull 3X ETF Stock Down 11.5%

The firm has a 50 day moving average price of $121.07 and a two-hundred day moving average price of $123.52. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 35.63 and a beta of 5.75.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

Hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC grew its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the 1st 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 in the last quarter. Optiver Holding B.V. increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after purchasing an additional 251,587 shares during the last quarter. Client First Investment Management LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the third quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock valued at $4,827,000 after purchasing an additional 17,621 shares during the last quarter. SteelPeak Wealth LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 1.2% during the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after purchasing an additional 266 shares during the last quarter. Finally, Variant Private Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth $2,705,000.

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.