Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 7.6% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded down 7.6% on Thursday . The stock traded as low as $31.20 and last traded at $31.43. 18,894,389 shares changed hands during trading, a decline of 75% from the average session volume of 74,779,180 shares. The stock had previously closed at $34.01.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 2.7 %

The stock has a market cap of $8.37 billion, a P/E ratio of 37.08 and a beta of 5.47. The firm’s 50-day moving average is $34.59 and its two-hundred day moving average is $42.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TB Alternative Assets Ltd. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at approximately $17,641,000. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $24,699,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $7,760,000. International Assets Investment Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $3,781,000. Finally, Campbell Capital Management Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth $1,064,000.

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.