Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 15.9% – What’s Next?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 15.9% on Friday . The stock traded as low as $215.00 and last traded at $220.94. Approximately 16,001,313 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 77,493,297 shares. The stock had previously closed at $262.70.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 19.8%

The firm has a 50 day simple moving average of $133.64 and a two-hundred day simple moving average of $81.09. The company has a market capitalization of $28.54 billion, a PE ratio of 35.63 and a beta of 5.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SOXL. Pin Oak Investment Advisors Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at approximately $25,000. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at approximately $33,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at approximately $33,000.

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.