Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 9% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price traded down 9% on Thursday . The company traded as low as $65.86 and last traded at $65.4030. 17,618,390 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 76,937,891 shares. The stock had previously closed at $71.86.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 11.9%

The firm has a 50-day simple moving average of $57.00 and a two-hundred day simple moving average of $43.72. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $22,677,000. Jump Financial LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after buying an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after buying an additional 603,324 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after acquiring an additional 526,417 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period.

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.