Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 12.2% – What’s Next?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 12.2% during mid-day trading on Friday . The company traded as low as $37.40 and last traded at $37.7460. Approximately 70,180,190 shares were traded during trading, a decline of 44% from the average daily volume of 124,922,016 shares. The stock had previously closed at $43.01.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 8.9%

The business has a 50-day moving average price of $36.59 and a 200-day moving average price of $26.83. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 58.8% during the first quarter. Stratos Wealth Advisors LLC now owns 22,214 shares of the company’s stock worth $354,000 after acquiring an additional 8,228 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 134.8% in the 1st quarter. Edgestream Partners L.P. now owns 30,972 shares of the company’s stock valued at $494,000 after purchasing an additional 17,781 shares during the last quarter. Signaturefd LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 50.0% in the 1st quarter. Signaturefd LLC now owns 4,500 shares of the company’s stock worth $72,000 after purchasing an additional 1,500 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $72,000. Finally, SBI Securities Co. Ltd. increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 14.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,142,842 shares of the company’s stock valued at $18,228,000 after purchasing an additional 147,588 shares in 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.