Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9.6% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price dropped 9.6% during mid-day trading on Friday . The company traded as low as $49.34 and last traded at $49.56. Approximately 74,025,556 shares were traded during trading, a decline of 11% from the average daily volume of 82,964,930 shares. The stock had previously closed at $54.85.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 6.8%

The stock’s 50-day moving average is $60.24 and its 200-day moving average is $46.72. The stock has a market cap of $9.84 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

Several large investors have recently made changes to their positions in SOXL. Bank of Montreal Can raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 26.7% in the 2nd quarter. Bank of Montreal Can now owns 5,933 shares of the company’s stock valued at $149,000 after acquiring an additional 1,250 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $252,000. Creative Planning increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 25.0% in the 2nd quarter. Creative Planning now owns 33,622 shares of the company’s stock valued at $844,000 after purchasing an additional 6,729 shares in the last quarter. Vestor Capital LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at about $2,684,000. Finally, M Holdings Securities Inc. raised its position in Direxion Daily Semiconductors Bull 3x Shares by 54.3% in the second quarter. M Holdings Securities Inc. now owns 35,866 shares of the company’s stock valued at $901,000 after purchasing an additional 12,620 shares during the period.

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.