Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 2.2%

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 2.2% during mid-day trading on Wednesday . The company traded as low as $39.46 and last traded at $39.65. 11,686,827 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 70,210,758 shares. The stock had previously closed at $40.54.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 6.4 %

The company’s fifty day simple moving average is $43.33 and its two-hundred day simple moving average is $31.37. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 42.92 and a beta of 5.29.

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

Hedge funds have recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $13,683,000. Westend Capital Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $68,000. Goldman Sachs Group Inc. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 472.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 275,901 shares of the company’s stock worth $8,663,000 after acquiring an additional 227,670 shares during the period. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $2,459,000. Finally, GR Financial Group LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $262,000.

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.