Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Down 11.2% – Here’s Why

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price traded down 11.2% during trading on Thursday. The company traded as low as $146.40 and last traded at $141.0870. Approximately 42,312,045 shares were traded during mid-day trading, a decline of 41% from the average session volume of 71,294,914 shares. The stock had previously closed at $158.91.

Direxion Daily Semiconductors Bull 3X ETF Trading Down 1.9%

The firm has a 50-day simple moving average of $130.80 and a 200-day simple moving average of $148.14. The firm has a market cap of $21.54 billion, a P/E ratio of 35.63 and a beta of 5.75.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Clay Northam Wealth Management LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF in the second quarter valued at approximately $1,178,000. IMC Chicago LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after purchasing an additional 324,775 shares during the last quarter. Alchemi Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the 4th quarter worth $796,000. Triton Wealth Management PLLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the 1st quarter worth $731,000. Finally, WJ Financial Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3X ETF during the 1st quarter worth $398,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.