Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 10.4% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 10.4% during mid-day trading on Thursday . The stock traded as low as $193.96 and last traded at $195.01. 33,317,559 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 75,525,906 shares. The stock had previously closed at $217.55.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 16.9%

The firm’s fifty day moving average price is $198.04 and its 200-day moving average price is $107.14. The company has a market cap of $21.38 billion, a P/E ratio of 35.63 and a beta of 5.66.

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

A number of institutional investors have recently added to or reduced their stakes in SOXL. Avestar Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth approximately $2,514,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period. SteelPeak Wealth LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 152.8% in the fourth quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock valued at $945,000 after purchasing an additional 13,593 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock valued at $1,761,000 after purchasing an additional 3,233 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the fourth quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after purchasing an additional 3,366 shares during the period.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.