Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 7.6% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price fell 7.6% on Friday . The stock traded as low as $113.15 and last traded at $113.73. 24,792,414 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 73,474,531 shares. The stock had previously closed at $123.05.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 9.7%

The company has a market cap of $18.81 billion, a PE ratio of 35.63 and a beta of 5.73. The business has a 50-day simple moving average of $161.50 and a 200-day simple moving average of $133.14.

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

Institutional investors have recently added to or reduced their stakes in the stock. Flow Traders U.S. LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at $258,000. NewEdge Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $270,000. HUB Investment Partners LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $326,000. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $25,000. Finally, Bank of America Corp DE boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 75.2% in the second quarter. Bank of America Corp DE now owns 174,241 shares of the company’s stock worth $4,375,000 after acquiring an additional 74,815 shares during the last quarter.

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.