Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 4% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 4% during trading on Friday . The stock traded as low as $33.48 and last traded at $33.52. 28,446,400 shares were traded during mid-day trading, a decline of 59% from the average session volume of 69,250,133 shares. The stock had previously closed at $34.92.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The firm has a fifty day moving average price of $29.57 and a 200 day moving average price of $34.57.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TB Alternative Assets Ltd. boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after buying an additional 141,941 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock valued at $14,049,000 after acquiring an additional 205,910 shares in the last quarter. Flow Traders U.S. LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 3rd quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock worth $3,911,000 after purchasing an additional 25,079 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $3,781,000. Finally, Taika Capital LP acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at about $3,765,000.

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.