Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 9% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price traded down 9% during trading on Tuesday . The stock traded as low as $247.86 and last traded at $248.00. 21,845,933 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 77,698,156 shares. The stock had previously closed at $272.50.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 21.0%

The stock has a market cap of $38.35 billion, a PE ratio of 35.63 and a beta of 5.70. The stock has a 50-day moving average of $163.92 and a 200 day moving average of $92.70.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $25,000. Halbert Hargrove Global Advisors LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares 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 period. Western Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $33,000. Finally, 1248 Management LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.