Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.8% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price fell 6.8% during trading on Thursday . The stock traded as low as $48.15 and last traded at $48.7220. 44,380,594 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 85,044,922 shares. The stock had previously closed at $52.29.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market capitalization of $14.44 billion, a P/E ratio of 35.63 and a beta of 4.52. The stock’s 50 day moving average is $42.78 and its 200-day moving average is $34.82.

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

Several hedge funds have recently made changes to their positions in SOXL. SBI Securities Co. Ltd. lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after buying an additional 526,417 shares during the period. Jump Financial LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after acquiring an additional 603,324 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $22,677,000. Finally, Group One Trading LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after purchasing an additional 319,393 shares in 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.