Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 2.6%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price fell 2.6% during trading on Monday . The stock traded as low as $38.71 and last traded at $38.75. 11,430,333 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 71,117,438 shares. The stock had previously closed at $39.80.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.4 %

The stock has a market capitalization of $9.79 billion, a PE ratio of 42.92 and a beta of 5.29. The company’s 50-day moving average is $42.87 and its 200 day moving average is $32.27.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of SOXL. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $43,087,000. Simplex Trading LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $41,164,000. Global Assets Advisory LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $13,683,000. Westwood Wealth Management increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 5.3% during the 3rd quarter. Westwood Wealth Management now owns 188,290 shares of the company’s stock valued at $3,553,000 after purchasing an additional 9,500 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at approximately $2,898,000.

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.