Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 9.9% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 9.9% during trading on Friday . The stock traded as low as $28.67 and last traded at $28.56. Approximately 38,584,012 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 73,656,391 shares. The stock had previously closed at $31.70.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a fifty day simple moving average of $29.18 and a 200 day simple moving average of $31.80. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares during the last quarter. Morse Asset Management Inc boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after acquiring an additional 368 shares during the last quarter. PayPay Securities Corp boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after acquiring an additional 403 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after acquiring an additional 585 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after buying an additional 600 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.